Which of the following serves as the justification for the periodic recording

Which of the following serves as the justification

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73. Which of the following serves as the justification for the periodic recording of depreciation expense? a. Association of efforts (expense) with accomplishments (revenue) b. Systematic and rational allocation of cost over the periods benefited c. Immediate recognition of an expense d. Minimization of income tax liability 74. Application of the full disclosure principle 75. Which of the following statements concerning the cost-benefit relationship is not true? 76. Under Statement of Financial Accounting Concepts No. 2,which of the following relates to both relevance and reliability? 77. Charging off the cost of a wastebasket with an estimated useful life of 10 years as an expense of the period when purchased is an example of the application of the a. consistency characteristic. b. matching principle. c. materiality constraint. d. historical cost principle. 78. Which of the following statements about materiality is notcorrect? 79. Which of the following are considered pervasive constraints by Statement of Financial Accounting Concepts No. 2? To download more slides, ebook, solutions and test bank, visit
Conceptual Framework Underlying Financial Accounting 2 - 15

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