On a Consortium Network

question 16

Multiple Choice

On a consortium network:

• A) everybody can become a miner, everybody can send transactions and everything is public.
• B) usually only a few selected nodes can be miners. Transactions can be further limited.

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Definitions:

Recording Depreciation

The process of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.

Expense Recognition Principle

An accounting principle stating that expenses should be recorded in the period in which they contribute to revenue, not necessarily when the expense is paid.

Fully Depreciated

An asset has reached the end of its useful life, and its book value is reduced to salvage value or zero.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.