_____ Are Moral Principles and Values That Govern the Actions

question 46

Multiple Choice

_____ are moral principles and values that govern the actions and decisions of an individual or group.

• A)Regulations
• B)Guidelines
• C)Policies
• D)Ethics
• E)Norms

Prepare adjusting journal entries for depreciation, amortization, and impairment of assets.

Account for the sale or disposal of depreciable assets and calculate gain or loss on disposition.

Understand the principles of asset impairment and how to record it.

Prepare journal entries for transactions involving intangible assets including purchase, amortization, and impairment.

---

Definitions:

Shareholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities.

General Ledger

A comprehensive record of a company's financial transactions over the life of the organization.

Paid Dividend

Refers to the portion of a company's earnings that has been distributed to shareholders as dividends.