Identify the applicable accounting convention for the following business scenario and explain your choice Regal...
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Accounting
Identify the applicable accounting convention for the following business scenario and explain your choice
Regal Enterprises has purchased $45,000 worth new equipment for use in its manufacturing operations and would like to write off the cost of this equipment in just a couple of years, instead of the usual 10 years for this equipment type. The company's president fears that the economic conditions in its industry will worsen and cause the company to sell the equipment sooner than expected
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You can see the logs in the Dashboard.