Accumulated Depreciation
Accumulated depreciation is the total depreciation expense recorded on an asset since its purchase. It reduces the asset’s book value on the balance sheet, reflecting wear and tear or obsolescence. By tracking accumulated depreciation, businesses align asset values with usage over time, ensuring accurate financial reporting and tax calculations.
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All-Purpose Financial Statement
A financial report designed for general use by a wide audience management, investors, creditors, or regulators. It usually includes standard…
All-Inclusive Income Statement
A version of the income statement that includes all items affecting net income, operating results, gains, losses, and unusual or…
Acid-Test Ratio
The acid-test ratio, also called the quick ratio, evaluates a company's short-term liquidity by measuring its ability to pay current…
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