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Short answer: Depreciation v. accumulated depreciation

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What is meant by the terms "depreciation" and "accumulated depreciation"? What financial statement does each of these items appear in?

This can be short answer. I want to check the one I have. Thanks!

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This solution is comprised of a detailed explanation to answer what is meant by the terms "depreciation" and "accumulated depreciation".

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What is meant by the terms "depreciation" and "accumulated depreciation"? What financial statement does each of these items appear in?

Depreciation is gradual reduction of the ...

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