Solved: As an asset gradually loses its ability to provide benefits, Accounting Basics

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As an asset gradually loses its ability to provide benefits

Question - "As an asset gradually loses its ability to provide benefits over its useful life, cash needs to be set aside to replace it. Depreciation accomplishes this goal. "

REQUIRED: Comment on the validity of the above statements. (Word limit: 140 - 170 words).

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Accounting Basics: As an asset gradually loses its ability to provide benefits

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