GAAP Requires That Fractional Year Amortization Be Computed to the Nearest

question 71

True/False

GAAP requires that fractional year amortization be computed to the nearest month.

---

Definitions:

Semantic Memory

A type of long-term memory that involves the recall of general facts and concepts not linked to personal experience.

Procedural Memory

The type of long-term memory responsible for knowing how to perform different actions and skills, essentially knowledge of procedures rather than facts.

Episodic Memory

The type of long-term memory that involves the recollection of specific events, situations, and experiences.

Script

A schema for an event, often containing information about physical features, people, and typical occurrences.