Examlex
Select the correct description for each of the abbreviations.
-MS
Owner's Equity
Owner's equity represents the owner's claim to the assets of a business, calculated as the business's total assets minus its total liabilities.
Salvage Value
is the estimated residual value of an asset at the end of its useful life.
Depreciation Expense
The allocated amount of an asset's cost expensed over its useful life to account for wear and tear, obsolescence, or decline in value.
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