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Locke argues that in the search for truth we must beware the pitfalls of "enthusiasm" (passion or emotion) and always follow the lead of reason. Reason, he says, is a God-given faculty that demands we not entertain any proposition with greater assurance than is warranted by the evidence. We should not believe anything that reason does not support (although some mysteries such as immortality are beyond our understanding). Even revelation (immediate communication of some sort from God) must be corroborated by reason; otherwise, we cannot be sure that a revelation is genuine. A prime disrupter of the workings of reason is enthusiasm, which arises "from the conceits of a warmed or over-weening brain." Through enthusiasm we can fall prey to wishful thinking, overwrought imagination (especially the religious kind), and groundless feelings of certainty. "Reason," says Locke, "must be our last judge and guide in every thing."
-Locke does not believe in God.
Business Combination Valuation Entries
Journal entries that record the valuation of assets, liabilities, and contingent liabilities at fair value in a business combination.
Depreciation Expense
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the consumption of the asset's economic value.
Goodwill
An intangible asset that arises when a company acquires another company for a price higher than the fair value of its net assets, representing the value of the brand, customer relationships, and other intangible aspects.
Dividend Payable
A liability recognized on a company's balance sheet when it declares dividends to be paid to shareholders.
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