What is depreciation?

A$)$ The process of allocating the cost of a tangible asset over its useful life

B$)$ The increase in value of an asset over time

C$)$ The amount of cash used to purchase an asset

D$)$ The total cost of an asset at the time of purchase

$8.$ Which method is commonly used for inventory valuation?

A$)$ FIFO $($First In$,$ First Out$)$

B$)$ LIFO $($Last In$,$ First Out$)$

C$)$ Weighted A