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What is the NFPA 704 standard?
Journal Entry
A record of a transaction in a business's accounts, noting the accounts affected and the amounts.
Depreciation
The process of methodically allocating the expense of a physical asset over its functional life.
Sales Price
The amount at which goods or services are sold to customers, sometimes before discounts, taxes, or additional charges.
Equipment Cost
The total expense incurred in purchasing and preparing equipment for its intended use, including acquisition, delivery, and setup costs.
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