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Retro Black
on Oct 16, 2024

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Depreciation expense is an example of an accrued expense.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Accrued Expense

An accounting term for expenses that have been incurred but not yet paid, representing a company's obligation to make future payments.

  • Understand the concept of depreciation and its accounting treatment.
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Veronica NocheOct 18, 2024
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