With Respect to Depreciation Policies,the Principle of Consistency Means

question 43

Multiple Choice

With respect to depreciation policies,the principle of consistency means:

• A)A company should use the same depreciation methods in its financial statements that it uses in its income tax returns.
• B)A company should use the same depreciation methods as other companies in the same industry.
• C)A company should use the same depreciation method from year to year for a given plant asset.
• D)A company should use the same depreciation method in computing depreciation expense on all its assets.

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Definitions:

Humanist

A humanist is someone who emphasizes the value and agency of human beings, individually and collectively, often preferring critical thinking and evidence over acceptance of dogma or superstition.

Rhetoric

The art of effective or persuasive speaking or writing, especially the use of figures of speech and other compositional techniques.

Married Women

Women who are legally united in marriage; historical legal contexts often defined their rights, property, and status in relation to their husbands.

Medici Family

A powerful and influential Florentine family in the 14th to 17th century known for their support of the arts and sciences as well as their own banking empire.