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Discuss, using examples from your own experiences, the concept of 'critical incident technique' (CIT).
Depreciable Cost
The cost of a plant asset less its salvage value.
Remaining Useful Life
The expected period that an asset is anticipated to be functional and economically viable for use in operations.
Book Value
The value of a company's asset as it appears on the balance sheet, calculated by subtracting the asset's accumulated depreciation from its cost.
Fair Market Value
The price at which an asset would sell in the market under conditions of fair competition and sufficient information.
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