Rules That Define Acceptable and Expected Behavior for Members of Various

question 434

Multiple Choice

Rules that define acceptable and expected behavior for members of various groups are called

• A)social norms.
• B)cultural laws.
• C)universal norms.
• D)cultural relational behaviors.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded over time for tangible assets, reducing their carrying value on the balance sheet.

Salvage Value

The forecasted sell-on value of an asset at the conclusion of its operational period.

Double-Declining Balance

A method of accelerated depreciation where an asset loses value at double the rate of the traditional straight-line depreciation method.

Straight-Line

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