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:

Prescription Opioids

A class of prescription drugs used to treat moderate to severe pain, which act on the nervous system but can lead to dependence, addiction, and other serious side effects.

Heroin Deaths

Fatalities resulting from the consumption of heroin, a highly addictive opioid drug.

Benzodiazepines

A class of psychoactive drugs used to treat conditions like anxiety, insomnia, and seizures, known for their sedative effects.

Chronic Pain

Persistent or recurring pain that lasts for an extended period of time, often beyond the normal healing process.