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What is the difference between parochialism and ethnocentrism?
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset since it was put into use.
Salvage Value
The estimated value that an asset will realize upon its sale at the end of its useful life.
Depreciation Expense
The allocation of the cost of a tangible asset over its useful life, representing wear and tear or obsolescence.
Units-of-Production
A method of depreciation that allocates expenses based on the number of units a fixed asset produces, linking the expense directly to the asset's usage.
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