So on one hand we have Depreciation Expense. On the other, we have Accumulated Depreciation. What is the difference between these two accounts?
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So on one hand we have
What is the difference between these two accounts?
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- EXPLAIN what type of account Accumulated Depreciation is?Demonstrates the difference between depreciation costs as expenses and the cash flow generated by the purchase of a fixed asset? Give an example?In practice, would you expect the depreciation expense for a non-current asset to be overestimated or underestimated? Explain why this is the case.