Which Accounting Principle Directs the Depreciation Process

question 104

Multiple Choice

Which accounting principle directs the depreciation process?

• A) going concern
• B) historical cost
• C) expense recognition
• D) revenue recognition

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Definitions:

Amnesty Program

A governmental initiative that grants legal forgiveness for individuals who have committed certain offenses, often related to immigration or taxes, permitting them to rectify their status or reduce penalties.

Legal Immigrants

Individuals who have been granted the right to live permanently and work in a country according to its laws and procedures.

Country of Origin

Refers to the country where a product is manufactured or where a service is provided, often used to indicate quality, style, or prestige.

Economic Immigration

The migration of individuals to a new country based on the primary purpose of finding employment or economic opportunities.