The first step in recording a disposal of a long-lived asset is to update that asset's depreciation.

Name: The first step in recording a disposal of a long-lived asset is to update that asset's depreciation.
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Before disposing of a long-lived asset, its book value must be updated to reflect any depreciation expense up to the date of disposal, ensuring the financial records accurately reflect the asset's current value.

The First Step in Recording a Disposal of a Long-Lived