The Important Assumptions Shared by Members of an Organization Are

question 62

Multiple Choice

The important assumptions shared by members of an organization are often:

• A) Very similar to all other organizations in that industry
• B) Very obvious to outsiders
• C) Unstated
• D) Formalized

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Definitions:

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal installments.

Salvage Value

The expected salvage value of an asset at the termination of its useful period.

Depreciated

The reduction in the value of an asset over time due to wear and tear, aging, or obsolescence.

Patent

A government-granted right that gives the holder exclusive control over the production, use, and sale of an invention for a set period.