Which of the Following Would Be Increased by Accounting Policy

question 14

Multiple Choice

Which of the following would be increased by accounting policy change involving use of the reducing balance method of depreciation in place of the straight-line method,leading to an increase in depreciation expense?

• A) assets
• B) net profit
• C) retained profits
• D) expenses.

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Definitions:

Standards

Established guidelines or benchmarks used to measure, compare, or regulate processes, products, or performance.

Legal Aid

Legal aid refers to the provision of assistance to individuals who are unable to afford legal representation and access to the court system.

Contingency Fee Agreement

A contingency fee agreement is a payment structure for legal services where the client pays the attorney a percentage of the settlement or judgment amount, only if the case is won.

Code of Business Conduct

A set of guidelines designed to set out acceptable behaviors for members within an organization.