Which of the Following Guidelines Should Be Applied When Choosing

question 71

Multiple Choice

Which of the following guidelines should be applied when choosing an account name to be included in the chart of accounts?

• A)Account names should identify the nature and content of each account.
• B)Account names should be used consistently.
• C)Account names should use titles and not explanations.
• D)All of the above are correct.

Understand the straight-line depreciation calculation.

Determine depreciation expense using the double-declining-balance method.

Distinguish between residual value and other related terms.

Calculate annual depreciation using the units-of-activity method.

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Definitions:

Regulation Of Attorneys

The process and procedures established by governing bodies to oversee the professional conduct of lawyers, including licensing, discipline, and ethical standards.

Specific Ethical Requirements

Regulations or standards set for specific professions that guide moral and ethical behavior.

State Bar Associations

Professional organizations that license, regulate, and discipline lawyers within a specific state.

Unified Bar

A unified bar is a mandatory organization that all lawyers must belong to in order to practice law within a certain jurisdiction.