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Which of the following statements is the assumption on which straight-line depreciati on is based? Multiple Choice Service value declines as a function of obsolescence.

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Which of the following statements is the assumption on which straight-line depreciati on is based? Multiple Choice Service value declines as a function of obsolescence. Service value declines as a function of time rather than a function of use. Physical wear and tear are more important than economic obsolescence. The operating efficiency of the asset decreases faster in later years

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