Challenger App

No.1 PSC Learning App

1M+ Downloads
Which of the following best describes depreciation in conceptual terms?

AAn immediate expensing of an asset's full cost in the period it is acquired.

BA reduction in an asset's market value due to obsolescence or wear and tear.

CThe process of revaluing an asset to its current fair market value each reporting period.

DA systematic allocation of the depreciable amount of an asset over its useful life

Answer:

D. A systematic allocation of the depreciable amount of an asset over its useful life

Read Explanation:

.


Related Questions:

Provision for discount on debtors is.......
Which sectors saw widespread success of cooperatives in Denmark?
Consignment stock A/c is a
Credit sales to Mohan Rs. 10,000 were posted to his account as Rs. 12,000 this is an error of ---.
In accounting, how many accounts are affected by a business transaction?