Examlex
Suppose you are a restaurant owner. What is your output? What resources do you need and how would you classify them under the four categories?
Units-Of-Production Method
A depreciation method that allocates an asset's cost based on its usage, output, or units of production rather than the passage of time.
Units-Of-Output Method
A depreciation method where the expense is calculated based on the units produced by the asset.
Depreciation Expense
This is the allocation of the cost of a tangible asset over its useful life.
Revenue
Income generated from normal business operations, usually from the sale of goods and services to customers.
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