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3 For the following statements provide an appropriate explanation. a) Nice things company records depreciation on a furniture. Explain how it affects its Balance Sheet

3 For the following statements provide an appropriate explanation. a) Nice things company records depreciation on a furniture. Explain how it affects its Balance Sheet and the Income Statement b) If a company records depreciation in every closing, which is the accounting principle that is it applying? What does it mean? Weight: 10% weight

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