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Technician A says there are two major differences between an automatic and manual transmission. Technician B says that due to the number of vehicles with automatic transmissions installed, it is important for a technician to have knowledge of automatic transmission fundamentals. Who is correct?
Gross Assets
The total sum of an individual's or entity's assets before any liabilities or deductions are taken into account.
Asset Sales
The process of selling assets of a company, often to generate cash or reduce liabilities.
Trade or Business
This refers to the regular and continuous operation of an activity with the purpose of earning income or profit.
Depreciation
An accounting method of allocating the cost of a tangible or physical asset over its useful life to account for declines in value.
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