Depreciation is the allocation of an asset's cost over its useful life. As a result, depreciation affects each of the financial statements. Explain how depreciation affects the statement of income, statement of financial position, and cash flow statement.

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The Answer of Depreciation is the allocation of an asset's cost over its useful life. As a result, depreciation affects each of the financial statements. Explain how depreciation affects the statement of income, statement of financial position, and cash flow statement.

Depreciation Is the Allocation of an Asset's Cost Over Its