Which of the following is the process of distributing the original cost of a long-term asset over the years of its useful life?
A) depreciation
B) accountable life
C) cost distribution
D) appreciation

Question

Quizplus · Accepted Answer

Depreciation is the process of distributing the original cost of a long-term asset over the years of its useful life. This is important for accounting purposes as it helps to accurately track the value of assets over time and reduce their book value on the balance sheet. It is a non-cash expense, meaning that no actual cash is being spent, but it is still an important factor in determining a company's profitability and financial health.

Which of the Following Is the Process of Distributing the Original