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Supplies On Hand
Refers to the inventory of supplies that a business currently has available for use at any given time.
Depreciation
The methodical distribution of a physical asset's expense over its lifespan, indicating the asset's use, deterioration, or becoming outdated.
Office Building
A structure designed exclusively for commercial, administrative, or professional operations, housing multiple offices.
Adjusting Entry
An accounting entry made in the general ledger at the end of an accounting period to allocate income and expenditure to the correct periods.
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