Which of Following Is Not a Similarity in the Accounting

question 48

Multiple Choice

Which of following is not a similarity in the accounting treatment for depreciation and cost depletion?

• A) The estimated life is based on economic or productive life.
• B) Assets subject to either are reported in the same classification on the statement of financial position.
• C) The rates may be changed upon revision of the estimated productive life used in the original rate computations.
• D) Both depreciation and depletion are based on time.

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Definitions:

Nursing Code

A set of ethical principles and standards that guide the professional conduct of nurses and nursing care.

Ethical Responsibility

A moral obligation to act correctly and make decisions that positively affect people and the environment, often referenced in professional contexts.

Competent Care

The provision of effective, appropriate, and skilled nursing or medical services to patients by healthcare professionals.

Utilitarianism

A moral theory that suggests that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.