Answered: Depreciation is charged to account for:…

Depreciation is charged to account for: A) Increase in asset valueB) Decrease in asset value over timeC) Appreciation of capitalD) Reduction of liabilitiesneed help

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 10MC: The amortization process is like what other process? A. depreciation B. valuation C. recognizing...

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Question

Depreciation is charged to account for:

A) Increase in asset value
B) Decrease in asset value over time
C) Appreciation of capital
D) Reduction of liabilities
need help

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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