Philip Has Noticed That One of His Senior Subordinates Has

question 22

Multiple Choice

Philip has noticed that one of his senior subordinates has flouted workplace safety rules three times.One of Philip's newer subordinates has also flouted the same rules.Philip has decided to ignore the seniority element and take the same disciplinary action against both the subordinates.This scenario illustrates the _____ element of the hot stove rule.

• A)consistency
• B)impersonality
• C)immediacy
• D)selectivity

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Definitions:

Depreciation Expense

The portion of the cost of a fixed asset that is charged as an expense in a particular accounting period, reflecting the asset's usage and wear and tear.

Betterments

Improvements made to a property or asset that increase its value or productivity.

Plant Asset

Plant asset is a long-term physical asset used in the production process of a company, such as machinery, buildings, and equipment.

Revenue Expenditures

Expenses that are directly matched with revenues for a specific period, typically affecting the income statement immediately.