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8. I will be purchasing a number of long-term assets to run my business such as land, a building, and store fixtures. Why do
8. I will be purchasing a number of long-term assets to run my business such as land, a building, and store fixtures. Why do I need to record these items as assets and depreciate them? Can't I just record them as expenses in the Income Statement in the year I purchase these assets? [4 marks]
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Principles of Cost Accounting
Authors: Edward J. Vanderbeck, Maria Mitchell
17th edition
9781305480520, 1305087402, 130548052X, 978-1305087408
