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Describe depreciation, how does it follow the matching principle, how it is calculated, and how it is presented on the financial statements. Discuss intangible assets.

  • Describe depreciation, how does it follow the matching principle, how it is calculated, and how it is presented on the financial statements.
  • Discuss intangible assets. What are some examples of intangible assets and how is their value on the balance sheet determined? Had you heard of intangible assets before? What is the term for expensing intangible assets over time (similar to depreciation)?

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