When Calculating a Partial Year's Depreciation,the Length of Time an Asset

question 47

Multiple Choice

When calculating a partial year's depreciation,the length of time an asset has been owned usually is rounded to the nearest month.This rounding practice is justified by the principle or rule of

• A)matching.
• B)materiality.
• C)conservatism.
• D)full disclosure.

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Definitions:

Subduction Zone

A region of the Earth's crust where one tectonic plate moves under another, often creating a trench and volcanic activity.

Mantle-derived

Originating or derived from the Earth's mantle, the thick layer of rock below Earth's crust and above the core.

Meteoric Water

Water originating from precipitation, including rain, snow, or hail, that infiltrates the Earth's surface.

Large Magma Chambers

Underground pools of molten rock that feed volcanoes and can store huge volumes of magma beneath the Earth's surface.