Examlex
An individual who is not a partner but is held out as a partner is a partner.
Depletion
The allocation of the cost of natural resources over their productive life, commonly used in industries like mining and forestry.
Amortization
The gradual reduction of a debt or the spreading of an intangible asset's cost over its useful life.
Depreciation Expense
The allocation of the cost of a tangible fixed asset over its useful life, reflecting the asset's consumption or wear and tear.
Book Value
The net value of a company's assets minus its liabilities, often used to evaluate the worth of a company.
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