Examlex
Directions: Change the following fractions to ratios.
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Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.
Residual Value
The estimated value of an asset at the end of its useful life, often used in calculating depreciation.
Modified Accelerated Cost Recovery
A tax depreciation system in the United States that allows the accelerated write-off of property under certain categories for tax purposes.
Tax Act of 1989
Legislation enacted to amend, revise, or change the tax laws existing at that time, specific to a given jurisdiction.
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