Question $8(2\mathrm{.}5$ points$)$

Tiff's Treats has a delivery van that it paid $$45,000$ for. Each year for five years, it deducts $$9,000$ from the var's value

as an asset, so that in the sixth year of ownership, it will no longer list the van as having any value as an asset. This

action is called

owners' equity

depreciation

retained earnings

inventory turnover

operating expenses