Examlex
Match each term with the correct statement below.
-Must be explicitly named in an import statement
Estimated Useful Life
The period over which a depreciable asset is expected to be used by an organization, influencing the depreciation method applied.
Equipment Account
An account on a company's balance sheet that reports the value of the company's ownership in equipment, adjusted for depreciation.
Non-Controlling Interest
A shareholder or equity interest in a corporation that is not large or significant enough to confer control over the business.
Entity Method
An accounting approach used in preparing consolidated financial statements where investments in subsidiaries are recorded at cost and adjusted for the parent company's share of the subsidiaries' post-acquisition profits or losses.
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