Examlex
Which of the following statements about water is not correct?
Furniture
Tangible, movable objects intended to support various human activities such as seating, eating, and sleeping, often considered a fixed asset in business accounting.
Fully Depreciated
The status of an asset after its cost has been completely written off over its useful life.
Accumulated Depreciation
The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was put into use.
Equipment
Tangible assets used in the operation of a business to produce goods or provide services, not intended for sale.
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