Consider the Concept Social Norms/rules

question 19

Essay

Consider the concept social norms/rules.In three or four sentences,choose two or three dimensions of this concept that would be able to be represented in variables (you only need to develop this into dimensions,not variables).

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Definitions:

Useful Life

The estimated duration of time that an asset is expected to be productive or useful, beyond which it is likely to be inefficient or obsolete.

Double-declining-balance Method

An accelerated depreciation method that doubles the straight-line depreciation rate and applies it to the undepreciated balance at the start of each period.

Straight-line Method

A method of calculating depreciation for an asset that spreads the cost evenly over its useful life.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset over its useful life, reducing its book value.