Identify and Give the Historical Significance of Each of the Following

question 44

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Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-Junípero Serra

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Definitions:

Amortization

Amortization refers to the process of gradually writing off the initial cost of an asset over a period.

Expense Account

An account that records the costs of operating a business.

Land

An asset representing the ground or property on which a business operates, not subject to depreciation.

Purchase Price

The amount of money paid to buy a good or service. In accounting, it refers to the cost at which an asset is acquired.