Examlex
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
"life-philosophy"
Salvage Value
The projected remaining worth of an asset upon the conclusion of its operational lifespan, frequently accounted for in determining depreciation.
Depreciation Expense
An accounting method allocating the cost of a tangible asset over its useful life.
Plant Assets
Durable physical assets employed in creating goods and services, including equipment, buildings, and machinery.
Double-Declining-Balance
A method of accelerated depreciation which doubles the rate at which an asset's book value depreciates compared to straight-line depreciation.
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