The Expensing of a Long-Lived Asset Such as a Wastebasket

question 49

Multiple Choice

The expensing of a long-lived asset such as a wastebasket is justified by which of the following accounting rules or principles?

• A)Matching
• B)Materiality
• C)Full disclosure
• D)Consistency

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Definitions:

Value Conflicts

Situations where differing beliefs, preferences, or principles lead to disagreements or clashes among individuals or groups.

Workplaces

Workplaces are physical or virtual locations where people are employed to undertake specific tasks or jobs, often consisting of offices, factories, or any setting that facilitates work activities.

Codes Of Ethics

Written set of principles and rules intended to guide behaviors and decisions of professionals and organizations.

Ethical Corporate Culture

An organizational environment that promotes integrity, accountability, and ethical behavior among its members.