The _____________ Principle Is the Belief That Employees Have a Responsibility

question 31

Multiple Choice

The _____________ principle is the belief that employees have a responsibility to supply information when it is requested by various stakeholders.

• A) Reliability
• B) Responsiveness
• C) Self-respect
• D) Transparency

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Definitions:

Useful Life

The estimated duration of time that an asset is expected to remain functional and productive for its intended purpose, affecting depreciation calculations.

Straight-Line Basis

A method of calculating depreciation or amortization by evenly allocating the cost of an asset over its useful life.

Salvage Value

The estimated value remaining in an asset after it has served its purpose.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.