Write a Short Note on Virtual Organization

question 35

Essay

Write a short note on virtual organization.

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Definitions:

Accumulated Depreciation

A cumulative account that records the depreciation expense of an asset, reducing its book value over time.

Initial Cost

The original acquisition cost of an asset or investment, prior to any adjustments for depreciation, improvement, or amortization.

Fixed Asset

A Fixed Asset is a long-term tangible piece of property that a company owns and uses in its operations to generate income, and not expected to be consumed or converted into cash within a year.

Straight-Line Depreciation

A plan to allocate the price of a concrete asset in consistent yearly fractions over its lifespan.