The Word "Bedlam" Derived From_________________

question 58

Multiple Choice

The word "bedlam" derived from_________________.

• A) A slang term popular in the 15th and 16th century for chaos
• B) Sir Francis Reginald Bedlam, founder of the first asylum in London
• C) Bedlam, England, home of the first insane asylum
• D) St. Mary's of Bethlehem Hospital in London

---

Definitions:

Double-Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate and applies it to the reducing book value each year.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts, making the expense predictable.

Accounting Principles

Fundamental guidelines or rules that govern the financial reporting and accounting practices of companies, ensuring accuracy, consistency, and fairness in financial statements.

Prospectively

Prospectively means looking forward or considering future events, often used in accounting in terms of adopting new policies for future transactions.