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Depreciation of a long-lived asset is the process of: 1. allocating the cost of a long-lived asset to an expense over the periods the asset
Depreciation of a long-lived asset is the process of:
1.
allocating the cost of a long-lived asset to an expense over the periods the asset provides a benefit to the entity.
2.
writing down a long-lived asset to its real value each accounting period.
3.
valuing a long-lived asset at its fair value.
4.
increasing the cost of a long-lived asset over the periods the asset benefits.
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