Examlex
In order to circumvent the liquor advertising ban in India, CT Inc., the manufacturer of Bright Beer, introduced bottled water under the same brand. The company ran a series of ads promoting its bottled water carrying the "Bright Beer" brand name and hoped to build awareness. In this scenario, CT Inc. utilized _____.
Useful Life
The estimated time period that an asset is expected to be used before it is fully depreciated or deemed no longer useful.
Depreciation Expense
An accounting method of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.
GAAP
Stands for Generally Accepted Accounting Principles, which are a common set of accounting standards and procedures that companies must follow when they compile their financial statements.
Accounting Estimate
Approximations or judgments made by management when preparing financial statements, due to uncertainty in determining the exact amounts.
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