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Retro Black
on Oct 16, 2024Verified
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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Learning Objectives
- Understand the concept of depreciation and its accounting treatment.
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