Depreciation is a process of allocation of the cost of fixed asset.

True

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False

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Solution

The correct option is A True
In accounting, the term depreciation refers to the allocation of cost of a tangible asset to expense to the periods in which the asset is expected to be used to obtain the economic benefit.
Hence, the given statement is True.

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Similar questions

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Depreciation is a process of allocation of the cost of fixed asset.

The correct option is A TrueIn accounting, the term depreciation refers to the allocation of cost of a tangible asset to expense to the periods in which the asset is expected to be used to obtain the economic benefit.Hence, the given statement is True.

The correct option is A True
In accounting, the term depreciation refers to the allocation of cost of a tangible asset to expense to the periods in which the asset is expected to be used to obtain the economic benefit.
Hence, the given statement is True.