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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Sam Houston
Double-Declining Balance
An accelerated method of depreciation that doubles the rate at which an asset's book value is reduced over time, reflecting quicker loss of value.
Straight-Line Depreciation
A technique for apportioning the price of a physical asset over its effective duration in steady annual portions.
Salvage Value
The expected salvage value of an asset after it has served its useful life.
Service Life
The expected period during which an asset remains usable, functional, or productive before it requires replacement or major repair.
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