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Depreciation is based on which assumption? Multiple Choice The period of utility of an asset is not fixed or determinable. The value of an asset

Depreciation is based on which assumption? Multiple Choice

The period of utility of an asset is not fixed or determinable.

The value of an asset is not fixed or determinable.

The salvage value of an asset will not exist when the depreciation process is complete.

The value of an asset declines in a predictable manner over the period of utility

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