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Depreciation can be defined as the measure of cost or revalued amount of economic benefits of a tangible fixed asset that has been consumed during a period. State the principle or conventions that support depreciation and indicates the different measures of this cost (depreciation) as an expense, and assess each measures’ input on Income Statement and the Balance Sheet.

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Your Answer Step 1 Basically Depreciation can also be defined as It records the usage of a fixed asset over a period of time and allocates its cost to ... View the full answer