3.4 Glossary of key terms
Unit 3.4 Glossary of key terms - Final accounts (some HL only) HL only key terms are shown in red text. Key term Definition Accumulated depreciation This refers to the accrued value of non-current assets, most of which fall in value over time due to depreciation. Assets The possessions owned by a business, which have a monetary value, e.g., buildings, land, machinery, equipment, inventories, and cash. Balance sheet...