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COGNITIVE ASSESSMENT Which of the following is true about the database approach?
Annual Depreciation
The amount of an asset’s cost allocated each year over its useful life, reflecting its consumption, wear and tear, or obsolescence.
Useful Life
The estimated duration of time over which an asset is expected to be functional and contribute to a company's operations.
Revenue Expenditures
Short-term expenses incurred during normal business operations that are charged against revenue in the period they are incurred.
Capital Expenditures
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment.
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