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What is the general classification of the reaction depicted below?
Original Cost
The initial price paid to acquire an asset or service, not accounting for depreciation or adjustments.
Book Value
The residual amount that represents a company's assets minus its liabilities.
Accumulated Depreciation
The aggregate depreciation recorded on a fixed asset since its commencement of use.
Supplies Expense
The cost incurred from consuming supplies that are used during the operation of a business, often classified as an expense on the income statement.
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