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The team members were reluctant to try a new format with which they were unfamiliar; the old format had served them well for many years. Their decision to stick with the old format is an example of the _____ bias.
Straight-Line Depreciation Rate
A method of calculating the depreciation of an asset, where the asset's cost is evenly distributed over its useful life.
Useful Life
The estimated duration an asset is expected to be economically usable, with normal wear and tear.
Depreciation
The process of allocating the cost of a tangible asset over its useful life, representing the asset's wear and tear, deterioration, or obsolescence.
Units-of-Activity Method
A depreciation technique that calculates the depreciation of an asset based on its usage, activity, or units produced instead of time.
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