Assertion: balance sheet's asset | /r/HasProperty | purchased
Facets:
Source sentences:
text: The accumulated depreciation is the amount that has been recorded as depreciation expense since the date the asset was purchased.
text: Excess reserves will decrease whenever loans are made, securities are purchased, physical assets are purchased, or any of the liabilities are decreased.
text: Depreciation prevents a significant cost from being recorded–or expensed–in the year the asset was purchased, which, if expensed, would impact net income negatively.