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Which is a major difference between multiple-choice questions and essay questions?
Asset Improvements
Expenditures made to increase the service life, operating efficiency, or productive capacity of an asset.
Ordinary Maintenance
Routine upkeep and repairs to keep equipment and facilities in working order, as opposed to major renovations or upgrades.
Accumulated Depreciation
The total amount by which an asset's value has been written down over time to reflect wear, tear, or obsolescence.
Trade-In Allowance
The amount credited to the buyer by a seller for the value of a traded item, reducing the cost of the new purchase.
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