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A Motor vehicle was purchased on June 1, 2012 for $400 000. It was expected to last for Four years. Management decided to depreciate the

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A Motor vehicle was purchased on June 1, 2012 for $400 000. It was expected to last for Four years. Management decided to depreciate the vehicle at the rate of 25% p.a. and expensed the cost of the asset over its useful economic life in the Statement of Profit ar Statement. Identify the accounting concept or convention from the list shown that was adopted by management. Accrual Money measurement Prudence Consistency

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