Examlex
which of the following has same unit?
Financial Statements
Reports that summarize the financial performance and financial position of a business, including the balance sheet, income statement, and cash flow statement.
Impaired Asset
An asset that has a market value significantly below its carrying amount on the balance sheet, indicating that recoverable amount is less than its book value, necessitating a write-down.
Depreciation Expense
The monetary value reduction in an asset's cost over its useful life due to wear and tear, age, or obsolescence.
Book Value
The net value of an asset according to its balance sheet account balance, calculated as the original cost minus accumulated depreciation.