Examlex
Assets are monies the company earns by selling its products and services.
Rental Contract
A written or verbal agreement between a lessor and lessee that stipulates the terms and conditions under which a property, vehicle, or piece of equipment is rented.
Prepaid Insurance
An asset account representing insurance payments made in advance for coverage extending beyond the current accounting period.
Equipment Rent
Equipment rent refers to the cost associated with leasing machinery, tools, or other equipment for a specified period, instead of purchasing them outright.
Service Contract
An agreement between a service provider and a customer to deliver specified services over a set period.
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