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A company purchases a ball point pen for an employee who will use it over the next three years. According to generally accepted accounting principles,

image text in transcribed A company purchases a ball point pen for an employee who will use it over the next three years. According to generally accepted accounting principles, the entire cost of the pen should be ... Added to inventory because it is not used up Expensed because annual depletion of the pen is immaterial Depreciated because the pen is a noncurrent asset

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