The periodic expense created by allocating the cost of plant and equipment to the periods in which they are used,representing the expense of using the assets,is called:

A) Accumulated depreciation.
B) A contra account.
C) The expense recognition (matching) principle.
D) Depreciation expense.
E) An accrued account.

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life, reflecting wear and tear, deterioration, or obsolescence.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was acquired, up to a specific date.

Expense Recognition

The accounting principle of matching expenses with revenues in the period in which they are incurred to generate those revenues, ensuring accurate financial reporting.