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10 cards from this deck
Item business owns providing future financial benefits
Non-current: >1 yr; Current: within 1 yr
Can physically touch them
Purchase + transport + registration + installation
Spreading asset's cost across its useful life
Record expense usage & tax benefit (deductible)
Constant depreciation yearly (same % of cost price)
Decreasing depreciation yearly (% of carrying value)
Cost price - Accumulated depreciation
R1 (cannot be R0 in books)
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