(Module AC.F 211) b) Explain how depreciation may be justified from an ‘Asset and Liability’ view of conceptual primacy.

I need some help as I am struggling in the following Accounting question: (Module AC.F 211)

b) Explain how depreciation may be justified from an ‘Asset and Liability’ view of conceptual primacy.

I need the answer to be precise and where it was referenced from.

Thank you