Depreciation of an asset is required when market value accounting is applied on a non-current asset.

Name: Depreciation of an asset is required when market value accounting is applied on a non-current asset.
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Depreciation is related to the allocation of the cost of a tangible asset over its useful life, which is a concept used in historical cost accounting, not market value accounting. In market value accounting, assets are reported at their current market value, not depreciated cost.

Depreciation of an Asset Is Required When Market Value Accounting