Examlex
Processing controls include the following tests:
Validation
Sequence
Data Reasonableness
Completeness
Describe what each control is designed to do.
Salvage Value
A projection of an asset's value at the end of its period of functionality.
Depreciation Cost
The systematic allocation of an asset's cost over its useful life to reflect the loss in value over time.
Plant Asset
Long-term tangible assets that are used in the production of goods and services, including machinery, buildings, and equipment.
Depreciable Cost
The total amount that can be depreciated over the life of an asset, typically the asset's cost minus its salvage value.
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