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Olfactory signals are transmitted directly to areas of the cortex and limbic system.
Matching Principle
An accounting principle that dictates that expenses should be recorded in the same period as the revenues they helped to generate.
Asset's Cost
Represents the total amount incurred to acquire an asset and make it operational, including purchase price and all other expenses necessary to get the asset into a usable state.
Service Life
The estimated period that an asset is expected to be useful in the operations of a business.
Taxable Income
The amount of income used to calculate an individual's or a company's income tax due, typically gross income minus deductions and exemptions.
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