Examlex
A letter of intent summarizes progress made during business negotiations,but more importantly,it creates a binding contract.
Straight-line Method
A method of calculating depreciation by evenly allocating the cost of an asset over its estimated useful life.
Salvage Value
The expected residual valuation of an asset at the conclusion of its operational life, commonly included in the calculations for depreciation.
Depreciation
The accounting process of allocating the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.
Annual Depreciation
The amount of an asset's cost that is allocated as expense across one year of its useful life, reflecting the asset's loss of value over time.
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