True. Depreciation is the process by which the expense of using a tangible item is linked to the benefit gained over its useful life. There are several types of depreciation, including straight-line and accelerated depreciation. Accumulated depreciation is the total of all depreciation reported on an asset up to a given date.
On the balance sheet, the carrying value of an asset is its previous cost less all accrued depreciation. The salvage value of an asset is its carrying value after all depreciation has been deducted. Depreciation can be contrasted with amortization, which accounts for the change in value of intangible asset over time.
To learn more about depreciation, click here
https://brainly.com/question/15085226
#SPJ4
