In the 14th century, plague ravaged Europe and Asia and was called the Black Death. Plague does not respond to penicillin, but other antibiotics are effective. Sanitary measures against fleas and rodents, quarantine and extreme caution in handling infectious materials help to suppress epidemics.
1. Expense recognition. Expenses are decreases in assets (e.g., rent expenses) or increases in liabilities (e.g., accrued utility expenses) that result from operating activities undertaken to generate revenue. Expenses are recognized in accordance with the matching principle. This principle mandates that the expense or cost of doing business is recorded in the same period as the revenue that has been generated as the result of incurring that expense or cost.
Companies use depreciation to spread the cost of a capital asset over the life of that asset. If a company spent $100,000 on a new piece of equipment one year, for example, its financial statements for that year wouldn't show the full $100,000 as an expense.f an asset has such a salvage value, that will be its carrying value when fully depreciated. The same rules apply, though. The company doesn't have to write off or write down the asset when it's fully depreciated; it can use the asset as long as it likes.