The _____ Is the Principle Says That the Same Processes

question 35

Multiple Choice

The _____ is the principle says that the same processes and natural laws that operated in the past are those we can actually observe or infer from observation as operating at present.

• A) Uniformitarianism
• B) Numericalism
• C) Relativism age
• D) Actualism
• E) Absolutism

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Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its decrease in value due to use, wear and tear, or obsolescence.

Depletion

The allocation of the cost of natural resources over their productive life, commonly used in industries like mining and forestry.

Amortization

The gradual reduction of a debt or the spreading of an intangible asset's cost over its useful life.

Depreciation Expense

The allocation of the cost of a tangible fixed asset over its useful life, reflecting the asset's consumption or wear and tear.