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Land Account
An account used in accounting to track the investment in land owned by an entity, including the costs associated with acquiring the land.
Adjustment Necessary
Indicates that changes must be made to financial records or statements to correct inaccuracies or account for new information.
Equipment Account
An account in financial records that tracks the cost and accumulated depreciation of equipment owned by a business.
Unamortized Patent
The portion of a patent's cost that has not yet been expensed through amortization.
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