Examlex
The basic elements of a contract are: offer, acceptance, consideration, genuine consent and court approval.
Relative Market Values
The comparison of an item’s market price to other similar items in the relevant market.
Depreciation Expense
The portion of the cost of a fixed asset that is considered as an expense due to its use, wear, and tear over time.
Estimated Useful Life
The length of time, usually expressed in years or periods, that an asset is expected to be used in business operations.
Plant Assets
Durable physical assets utilized in manufacturing goods and providing services, including structures, machines, and tools.
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