According to the Ethics Resource Center, a Good Code of Ethics

question 42

True/False

According to the Ethics Resource Center, a good code of ethics is structured to liberate and empower people to make more effective decisions with greater confidence.

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Definitions:

Useful Life

The estimated time period that an asset is expected to be used by a business or be productive.

Straight-Line Rate

A method of calculating the depreciation of an asset, which allocates an equal depreciation expense each year over the asset's useful life.

Double Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate, allowing for faster asset expense recognition.

Modified Accelerated Cost Recovery

A tax depreciation system in the U.S. that allows for the accelerated depreciation of property under certain conditions.