The Allocation of the Cost of an Asset to Expense

question 211

Short Answer

The allocation of the cost of an asset to expense over its useful life is called _________________ for tangible plant assets ________________ for natural resources and _________________ for intangible assets.

---

Definitions:

Iconic Memory

A type of visual memory that stores an exact copy of what is seen, but only for a very brief period of time.

Echoic Memory

A form of sensory memory that holds auditory information for a few seconds after the sound is heard.

Automatic Encode

The unconscious processing of incidental information into memory, without the need for active effort or awareness.

Day's Events

Activities, occurrences, or experiences that happen throughout the course of a single day.