Examlex
Match each description with the item below.
-Patrick Henry
Functional Depreciation
The decrease in the usefulness or value of an asset due to advancements in technology or changes in market demands, rather than physical wear and tear.
Fixed Asset
Long-term tangible assets that a company uses in its operations to generate income, such as buildings, machinery, and vehicles, which are not typically sold in the course of business.
Interest on Construction Loan
The interest that accrues on a loan taken out to finance the construction of a building or other project, traditionally capitalized and added to the project's cost base.
Expense Account
A type of account used in accounting to track money spent or costs incurred by a business in its operational activities.
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