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Respond to the following in a minimum of 175 words: What characteristics of a plant asset make it different from other assets? Why does GAAP

Respond to the following in a minimum of 175 words: What characteristics of a plant asset make it different from other assets? Why does GAAP require depreciation for certain plant assets? The balance in an Accumulated Depreciation - Equipment account does not represent funds to replace the equipment when it wears out; instead, what does it represent?

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