A Medical Laboratory Bought a Courier Vehicle in 2008 and Used

question 30

Multiple Choice

A medical laboratory bought a courier vehicle in 2008 and used a six-year depreciation schedule. The next year, the lab bought a similar vehicle and used a five-year depreciation schedule. This violates the accounting principle of ____.

• A) accuracy
• B) consistency
• C) materiality
• D) subsequent events

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Definitions:

Hammurabi's Reign

The period of rule by the sixth king of the First Babylonian Dynasty, known for the Codex Hammurabi, one of the oldest deciphered writings of significant length in the world.

Legal System

The comprehensive set of rules and institutions that govern behavior, resolve disputes, and administer justice within a society.

Political Administration

The organization and management of government affairs and the implementation of public policy by officials within a political system or framework.

Reed Stylus

A tool made from a reed plant used for writing on papyrus or other materials in ancient times.