Accounting Recognizes That Assets,such as Machinery and Buildings,lose Value Over

question 99

Multiple Choice

Accounting recognizes that assets,such as machinery and buildings,lose value over time.Accountants will record a portion of the cost of an asset as an expense each year through the use of:

• A)Asset valuation.
• B)Asset audits.
• C)Appreciation.
• D)Depreciation.

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Definitions:

Duration

The length of time that something lasts or continues.

Edward Hall

A cultural anthropologist known for his studies of personal space and its impact on communication, termed "proxemics."

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Anthropologist

A scientist who studies human societies, cultures, and their development.