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Which of the following statements describing depreciation is correct? Depreciation expense is a contra asset. Depreciation creates a fund to finance the replacement of an

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Which of the following statements describing depreciation is correct? Depreciation expense is a contra asset. Depreciation creates a fund to finance the replacement of an asset. Depreciation is the process of allocating a plant asset's cost to match the revenue it generates. Depreciation is recorded for the decrease in market value of an asset Depreciation reduces the value of an intangible over its useful life

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