Examlex
If you had a box of 200 beads that were different shapes and you randomly chose and linked together 3 beads,you would be performing a process analogous to the way
Fair Value
An estimate of the market value of an asset or liability, based on the current price at which it could be bought or sold in an open market.
Legal Life
The period in which an asset is legally allowed to be used for its intended purpose, or the duration of intellectual property protection under law.
Useful Life
The estimated period over which a fixed asset is expected to be usable by an organization.
Accumulated Depreciation
The aggregate sum of depreciation costs accounted for a fixed asset since its inception of use.
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