Examlex
Simplify the following.
Accumulated Depreciation
The total amount of depreciation expense that has been charged against a fixed asset since it was acquired, reflecting its loss of value over time.
Equipment
Equipment refers to the tangible assets or tools used in the operation or production process of businesses, which can range from office supplies to heavy machinery.
Fair Market Value
The price at which an asset would trade in an open and competitive market between a willing buyer and a willing seller, both having reasonable knowledge of the pertinent facts.
Original Investments
Original investments refer to the initial amount of money put into a business or project by its owners or investors.
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