Recognition of Expense Related to Amortization of an Intangible Asset

question 117

Multiple Choice

Recognition of expense related to amortization of an intangible asset illustrates which principle of accounting?

• A) Expense recognition.
• B) Full disclosure.
• C) Revenue recognition.
• D) Historical cost.

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Definitions:

Cognitive Development

The process by which a person perceives, thinks, and gains understanding of their world through the interaction and influence of genetic and learned factors.

Moral Development

The process through which individuals grow in their understanding of morals, ethical behavior, and the reasoning behind their own choices regarding right and wrong.

Postconventional

A stage of moral development where individuals make decisions based on internal principles and values, rather than conforming to societal norms.

Conventional

Referring to ideas, methods, or standards that are widely accepted and practiced within a society or culture.