Assertion: asset's cost | /r/HasProperty | recorded
Facets:
Source sentences:
text: This means that each year that the equipment or machinery is put to use, the cost associated with using up the asset over time is recorded.
text: When a fixed asset is eventually disposed of, the event should be recorded by debiting the accumulated depreciation account for the full amount depreciated, crediting the fixed asset account for its full recorded cost, and using a gain or loss account to record any remaining difference.
text: An asset may be depreciated over time, so that its recorded cost gradually declines over its useful life.