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6 Cards in this Set

  • Front
  • Back
amount paid plus taxes, shipping and other cost for putting into operation is the definition of
acquisition cost
length of time the pharmacy intends to use the asset is the definition of?
useful life
estimate of how much the asset will be worth at the end of its useful life is the definition of
residual or salvage value
What are the 3 methods of calculating depreciation
straight line method
sum of years digits
double declining balance
this method assumes assets wear out at a constant rate
straight line method
These two methods are accelerated methods of depreciation - assets lose more value early in life
sum of years digits
double declining balance