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Your friend has just completed the first year of operating a one-van courier business. She explains to you that because she has taken very good
Your friend has just completed the first year of operating a one-van courier business. She explains to you that because she has taken very good care of the van, she could sell the van for more than what she paid for it a year ago. As a result, she decides not to depreciate the van for the first year of its operation. Explain why your friends thinking is incorrect, referring to the concept of depreciation.
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