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:

Article 3

Typically refers to a segment of a constitution, legal code, or treaty that outlines specific powers, rights, or obligations.

Indorsements

Signatures or statements on a negotiable instrument (like a cheque or bill of lading) that specify the terms under which the document is to be transferred or can enforce rights under it.

Negotiation

The process where two or more parties discuss and modify terms of an agreement to reach a mutually acceptable solution.

Indorsements

The act of signing a document, typically on the back of a negotiable instrument like a check, signifying agreement, approval, or endorsement of its contents.