Listed Below Are Five Terms Followed by a List of Phrases

question 61

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Service life

• A)Cost allocation for an intangible asset.
• B)Cost allocation for a natural resource.
• C)Cost less residual value.
• D)Amount of use expected from plant and equipment asset.
• E)Treated prospectively like a change in estimate

---

Definitions:

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups.

Inflated Expectations

Describes heightened or unrealistic anticipations about a situation, product, or event that may lead to disappointment when not met.

Organizational Ethics

Refers to the principles, values, and standards that guide behavior within the context of a business or organization, determining its conduct and decision-making processes.

Senior Leadership

Individuals at the highest level of an organization's hierarchy who are responsible for strategic decision-making and direction.