Depreciation in accounting is the process of allocating to expense the cost of an asset over its service life.

Name: Depreciation in accounting is the process of allocating to expense the cost of an asset over its service life.
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Depreciation is the process of allocating the cost of an asset over its useful life in order to match the cost of the asset to the revenues it generates. This is done by charging a portion of the asset's cost as an expense each accounting period.

Depreciation in Accounting Is the Process of Allocating to Expense