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When considering the interaction of heredity and environment, it is important for teachers to understand that
Depreciable Assets
Assets whose cost is allocated over their useful lives due to usage, wear and tear, or obsolescence.
Annual Depreciation
The portion of an asset's cost that is allocated as an expense each year over its useful life through the process of depreciation.
Salvage Values
Salvage Values represent the estimated residual value of an asset after its useful life has ended and it has been fully depreciated.
Useful Lives
The estimated periods of time over which fixed assets, such as machinery or buildings, are expected to be used by a business.
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