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which of the following statements is not correct? generally accepted accounting principles require that the original cost of a long-term asset continue to appear in

which of the following statements is not correct? generally accepted accounting principles require that the original cost of a long-term asset continue to appear in the asset account until the disposition of the asset. The book value of a long-term asset is reduced each year as depreciation is recorded Building and trucks are examples of long -term assets Salvage value is computed by subtracting the accumulated depreciation from the cost of a long-term asset

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