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1) What characteristics of a plant asset make it different from other assets? 2) Does the balance in the Accumulated Depreciation - Machinery account represent

1) What characteristics of a plant asset make it different from other assets?

2) Does the balance in the Accumulated Depreciation - Machinery account represent funds to replace the machinery when it wears off? If not, what does it represent?

3) What accounting principle justified charging low-cost plant asset purchases immediately to an expense account?

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