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Alexander McGillivray prove to be a shrewd leader by carefully strengthening
Recording Depreciation
The process of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.
Expense Recognition Principle
An accounting principle stating that expenses should be recorded in the period in which they contribute to revenue, not necessarily when the expense is paid.
Fully Depreciated
An asset has reached the end of its useful life, and its book value is reduced to salvage value or zero.
Depreciation
The process of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.
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