Depreciation Is the ________

question 127

Multiple Choice

Depreciation is the ________.

• A)allocation of a natural resource's cost to an expense account as the resource is consumed
• B)allocation of an intangible asset's cost to an expense account over the asset's estimated useful life
• C)allocation of property,plant and equipment cost to an expense account over the assets' estimated useful lives
• D)capitalization of a long-term asset's cost

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Definitions:

Expectancy

The anticipation or belief about what will happen in the future, often based on past experiences or current evidence.

Judgement Creditor

An individual or entity that has won a monetary judgement against a debtor in court, granting them the right to collect the judgment amount from the debtor.

RUPA

The Revised Uniform Partnership Act, which is a legal guideline for the formation and conduct of partnerships in the United States.

Partnership Assets

Assets owned jointly by partners within a partnership, used for the business’s operations and subject to partnership agreements.