Which of the following statements most appropriately describes the purpose of depreciation of a long-lived tangible asset? Multiple Choice To record that the asset's market value declines over time. To show that the asset will eventually and gradually become obsolete. To match the cost of the asset to the period in which it generates revenue. To indicate how the asset has physically deteriorated.

Which of the following statements most appropriately describes the purpose of depreciation of a long-lived tangible asset? Multiple Choice To record that the asset's market value declines over time. To show that the asset will eventually and gradually become obsolete. To match the cost of the asset to the period in which it generates revenue. To indicate how the asset has physically deteriorated