A State Function Does Not Depend on the System's Past

question 15

True/False

A state function does not depend on the system's past or future.

---

Definitions:

Amortisation

The systematic allocation of the depreciable amount of an intangible asset over its useful life.

Impairment

A reduction in the recoverable value of an asset below its carrying amount on the balance sheet, leading to a write-down of its value.

Intangible Assets

Non-physical assets owned by a business that have a useful life, such as patents, trademarks, and copyrights.

Capitalised

Expenses or costs that are added to the cost basis of a fixed asset on a company's balance sheet, rather than being expensed immediately.