Generally accepted accounting principles (GAAP)require that long-term assets be expensed over their useful lives using the straight-line method.

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Quizplus · Accepted Answer

GAAP allows for several methods of depreciation, including straight-line, declining balance, and units of production, among others. The choice of method depends on the nature of the asset and the most appropriate way to allocate its cost over its useful life.

Generally Accepted Accounting Principles (GAAP)require That Long-Term Assets Be Expensed