Examlex
Surgical removal of a small piece of tissue for microscopic examination is known as:
Depreciation Expense
Depreciation Expense represents the systematic allocation of the cost of a tangible asset over its useful life, reflecting its wear and tear or obsolescence.
Contra-Asset
A contra-asset account is an asset account where the balance of the account is either zero or a credit balance, used to reduce the value of the related asset, such as accumulated depreciation for fixed assets.
Accumulated Depreciation
The total amount of a company's asset that has been expensed for depreciation to date.
Accrued Expense
An expense that has been incurred but has not yet been paid or recorded in financial statements through standard accounting entries.
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