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describe (in 100-200 words) the purpose of Depreciation (and Amortization and Depletion) and identify the Generally Accepted Accounting Principle(s) or Concepts that require this treatment

describe (in 100-200 words) the purpose of Depreciation (and Amortization and Depletion) and identify the Generally Accepted Accounting Principle(s) or Concepts that require this treatment for Long-Term Assets.

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