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1. What is depreciation and how does it relate to the matching principle? 2. Is depreciation an exact calculation? If not, what estimates are involved?

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1. What is depreciation and how does it relate to the matching principle? 2. Is depreciation an exact calculation? If not, what estimates are involved? 3. What happens in the accounting records if we estimate that a car will last for 5 years and it lasts for 7 years

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