If It Is Not Probable That Expenditure Will Generate Future

question 2

Multiple Choice

If it is not probable that expenditure will generate future benefits,the accounting treatment should bE.

• A) To treat it as a deferred asset.
• B) To amortise it over a period of no more than two operating cycles.
• C) To expense it.
• D) To treat it as an unearned revenue.
• E) None of the given answers.

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An educational institution that focuses on teaching skills and knowledge relevant to a specific job or career.

Dominant Culture

The prevailing cultural practices, beliefs, and values that are accepted and upheld by the majority of society, often influencing social norms and laws.

Meritocracy Standards

A system or principle in which people are selected or rewarded based on their capabilities and merits rather than on the basis of their social status or wealth.

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