Which of the Following Serves as the Justification for the Periodic

question 18

Multiple Choice

Which of the following serves as the justification for the periodic recording of depreciation expense?

• A) association of efforts (expense) with accomplishments (revenue)
• B) minimization of income tax liability
• C) immediate recognition of an expense
• D) systematic and rational allocation of cost over the periods benefited

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Definitions:

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states across a number of observations or trials.

Normal Approximation

A method used in statistics where a normal distribution is used to approximate a different, often more complex, distribution under certain conditions.

Probability

The likelihood of occurrence of an event, often represented as a value between 0 and 1.

Binomial Probability

The probability of achieving a specific number of successes in a fixed number of Bernoulli trials with the same probability of success on each trial.