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Salvage Value
''Residual value'' is one of the constituents of a leasing A lease is a contract A contract is a legally binding document between at least two parties that defines and governs the rights and duties of the parties to an agreement. A contract is legally enforceable because it meets the requirements and ... calculus or operation. It describes the future value of a good in terms of absolute value in monetary terms and it is sometimes abbreviated into a percentage of the initial price when the item was new. Example: A car is sold at a list price of $20,000 today. After a usage of 36 months and 50,000 miles its value is contractually defined as $10,000 or 50%. The credited amount, on which the interest is applied, thus is $20,000 present value minus the present value of $10,000 future value. Residual values are contractually dealt with either in terms of closed contract Closed may refer to: Mathematics * Closure (mathematics) In mathematics, a set is closed under an operation i ...
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Leasing
A lease is a contract A contract is a legally binding agreement that defines and governs the rights and duties between or among its parties Image:'Hip, Hip, Hurrah! Artist Festival at Skagen', by Peder Severin Krøyer (1888) Demisted with DXO PhotoLab Clearview ...ual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (the ''lessor'') for use of an asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such a .... Property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ..., buildings and vehicles are common assets that are leased. Industrial or bus ...
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Closed Contract
Closed may refer to: Mathematics * Closure (mathematics) In mathematics, a subset In mathematics Mathematics (from Ancient Greek, Greek: ) includes the study of such topics as quantity (number theory), mathematical structure, structure (algebra), space (geometry), and calculus, change (mathema ..., a set, along with operations, for which applying those operations on members always results in a member of the set * Closed set In geometry Geometry (from the grc, γεωμετρία; ' "earth", ' "measurement") is, with , one of the oldest branches of . It is concerned with properties of space that are related with distance, shape, size, and relative position of ..., a set which contains all its limit points * Closed interval In mathematics Mathematics (from Greek: ) includes the study of such topics as numbers (arithmetic and number theory), formulas and related structures (algebra), shapes and spaces in which they are contained (geometry), and quantit ...
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Open Contract
Open or OPEN may refer to: Music * Open (band) Open is a band. Background Drummer Pete Neville has been involved in the Sydney/Australian music scene for a number of years. He has recently completed a Masters in screen music at the Australian Film Television and Radio School. He was a membe ..., Australian pop/rock band * The Open (band) The Open were an English five-piece indie rock band Band or BAND may refer to: Places *Bánd, a village in Hungary *Band, Iran, a village in Urmia County, West Azerbaijan Province, Iran *Band, Mureș, a commune in Romania *Band-e Majid Khan, ..., English indie rock band * ''Open'' (Blues Image album), 1969 * ''Open'' (Gotthard album), 1999 * ''Open'' (Cowboy Junkies album), 2001 * ''Open'' (YFriday album), 2001 * ''Open'' (Shaznay Lewis album), 2004 * ''Open'' (Jon Anderson EP), 2011 * ''Open'' (Stick Men album), 2012 * ''Open'' (The Necks album), 2013 * ''Open'', a 1967 album by Julie Driscoll, Brian Auger and the Trinity ...
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Salvage Value
''Residual value'' is one of the constituents of a leasing A lease is a contract A contract is a legally binding document between at least two parties that defines and governs the rights and duties of the parties to an agreement. A contract is legally enforceable because it meets the requirements and ... calculus or operation. It describes the future value of a good in terms of absolute value in monetary terms and it is sometimes abbreviated into a percentage of the initial price when the item was new. Example: A car is sold at a list price of $20,000 today. After a usage of 36 months and 50,000 miles its value is contractually defined as $10,000 or 50%. The credited amount, on which the interest is applied, thus is $20,000 present value minus the present value of $10,000 future value. Residual values are contractually dealt with either in terms of closed contract Closed may refer to: Mathematics * Closure (mathematics) In mathematics, a set is closed under an operation i ...
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Depreciation
In accountancy, depreciation refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used (depreciation with the matching principle). Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span. Businesses depreciate long-term assets for both accounting and tax purposes. The decrease in value of the asset affects the balance sheet of a business or entity, and the method of depreciating the asset, accounting-wise, affects the net income, and thus the income statement that they report. Generally, the cost is allocated as depreciation expense among the periods in which the asset is expected to be used. Methods of c ...
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Business Economics
Business economics is a field in applied economics Applied economics is the application of economic theory Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Con ... which uses economic theory Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. ... and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital Capital most commonly refers to: * Capital letter Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller lowercase (or ...
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