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Depreciable Asset
An asset subject to depreciation, which means its cost is allocated over its useful life due to wear and tear, deterioration, or obsolescence.
Carrying Amount
The net value of an asset or liability as presented on the balance sheet, accounting for factors like depreciation or amortization where applicable.
Accrual Basis
Accrual Basis is an accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash is received or paid.
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