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How was an Acheulean handaxe made? Walk me through the steps.
Accumulated Depreciation
The cumulative amount of depreciation expense recorded for an asset from the time of its acquisition.
Contra Asset
An account on a company's balance sheet that reduces the value of a related asset, such as accumulated depreciation.
Expense Account
An account that records the costs incurred by a business in the process of earning revenue, part of the company's income statement.
Adjusting Entry
A record added in the books at the closing of an accounting cycle to note any unrecorded earnings or expenditures during that time.
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