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Which of the following statements best describes the process of accounting for depreciation? A. A process that attempts to recognize loss in economic value over
Which of the following statements best describes the process of accounting for depreciation?
A. | A process that attempts to recognize loss in economic value over a period of time. | |
B. | A process for setting aside cash so funds will be available to replace the asset. | |
C. | A process for recognizing the cost of an asset that should be matched against revenue earned as a result of using the asset. | |
D. | A process for recognizing all of the cost associated with using an asset in a revenue generating activity. |
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