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.
Updated May 11, 2016. Depreciable assets are business assets which can be depreciated. That is, the value of the asset is considered as a business expense over the life of the asset. The ability to expense an asset is useful for tax purposes. The IRS uses the term depreciable property, which is basically the same thing as depreciable assets, so we'll use the term depreciable property in this discussion.