The Process of Spreading the Cost of a Fixed Asset

question 53

Multiple Choice

The process of spreading the cost of a fixed asset over the asset's useful life is called

• A) expensing.
• B) depreciation.
• C) apportioning.
• D) crediting.
• E) distributing.

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Definitions:

Concrete Operational

A stage in Piaget’s theory of cognitive development where children aged 7 to 12 develop logical thinking skills but are still concrete in their approach to problem-solving.

Formal Operational

A stage in Piaget's theory of cognitive development, where individuals are able to think abstractly, logically, and systematically.

Egocentrism

In psychology, the inability to differentiate between one's own perspective and another person's perspective.

Piaget

A Swiss psychologist known for his pioneering work in developmental psychology, especially his theory of cognitive development in children.