2728. Purchase cost of assets over its useful life is classified as

appreciation
depreciation
appreciated assets
appreciated liabilities
✅ The correct answer is B.
Purchase cost of assets over its useful life is classified as depreciation. Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top