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Asset Management
The systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner.
Depreciation Expense
Depreciation Expense represents the systematic allocation of the cost of a tangible asset over its useful life, reflecting its wear and tear or obsolescence.
Contra-Asset
A contra-asset account is an asset account where the balance of the account is either zero or a credit balance, used to reduce the value of the related asset, such as accumulated depreciation for fixed assets.
Accumulated Depreciation
The total amount of a company's asset that has been expensed for depreciation to date.
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