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Equipment Ledger
A detailed record that tracks the acquisition, depreciation, and disposal of equipment owned by a business.
Commercial Substance
A situation where a transaction causes a significant change to the future cash flows of a company.
Book Value
The value of an asset according to its balance sheet account balance, calculated as the original cost of the asset minus any accumulated depreciation, amortization, or impairment costs.
Market Value
Market value refers to the current price at which an asset or service can be bought or sold on the open market.
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