Which of the following statements most appropriately describes the purpose of

Question

Which of the following statements most appropriately describes the purpose of depreciating a long-lived tangible asset?

A) To indicate how the asset has physically deteriorated

B) To show that the asset will eventually and gradually become obsolete

C) To record that the asset's market value declines over time

D) To match the cost of the asset to the period in which it generates revenue

Answer

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