The Period of Time Over Which the Cost of an Asset

question 22

True/False

The period of time over which the cost of an asset is allocated to depreciation expense is called its useful life.

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Definitions:

Shareholder

An individual or institution that owns one or more shares of stock in a public company.

Proxy Materials

Documents distributed to shareholders in preparation for corporate votes, including information on issues to be voted on at shareholder meetings.

Corporate Articles

Also known as Articles of Incorporation, these are formal documents filed with a government body to legally document the creation of a corporation.

Bylaws

Written rules and regulations that govern the internal management of an organization, corporation, or entity.