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Expense should be recorded to recognize the cost of using long-lived assets, such as equipment, during the accounting period. (Enter one word per blank.)

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Solution 1

The word you're looking for to fill in the blank is "depreciation."

Explanation: Depreciation is the accounting method used to allocate the cost of a tangible asset over its useful life. Since long-lived assets like equipment provide benefits over several years, it is crucial to recognize the Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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