Examlex
While discussing a programmed ride control (PRC) system:
Goodwill
An intangible asset that arises when a business is acquired for more than the sum of the fair value of its identifiable tangible and intangible assets and liabilities.
Internally Generated
Refers to assets or resources that are created or produced within a company, rather than acquired from external sources.
Straight-Line Method
A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.
Residual Value
The estimated value that an asset will have at the end of its useful life, also known as salvage value.
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