What are the conservative values?
7 Core Principles of Conservatism
- Individual Freedom. The birth of our great nation was inspired by the bold declaration that our individual,God-given liberties should be preserved against government intrusion. …
- Limited Government. …
- The Rule of Law. …
- Peace through Strength. …
- Fiscal Responsibility. …
- Free Markets. …
- Human Dignity.
What are conservative values in the US?
They advocate low taxes, free markets, deregulation, privatization, and reduced government spending and government debt. Social conservatives see traditional social values, often rooted in religion, as being threatened by secularism and moral relativism.
What is a conservative in simple terms?
Conservatism is a type of political belief that supports emphasis on traditions and relies on the individual to maintain society. … The term is associated with right-wing politics. It has been used to describe a wide range of views.
What is a core ideology of conservatives quizlet?
What is the Conservative core value of hierarchy and authority? 1)Conservatives traditionally believe that society is naturally hierarchical, characterised by established social grades. Social equality is therefore rejected as unachievable.
What are liberal values?
Through all these strands and traditions, scholars have identified the following major common facets of liberal thought: believing in equality and individual liberty, supporting private property and individual rights, supporting the idea of limited constitutional government, and recognising the importance of related …
Who are conservatives in US politics?
American conservatism is a broad system of political beliefs in the United States characterized by respect for American traditions, republicanism, support for Judeo-Christian values, moral absolutism, free markets and free trade, anti-communism, individualism, advocacy of American exceptionalism, and a defense of …
What is conservatism in accounting quizlet?
Conservatism Principle. A company should report the least favorable figures in the financial statements when two or more possible options are presented.
What are the core beliefs of the ideology of conservatism?
In Western culture, conservatives seek to preserve a range of institutions such as organized religion, parliamentary government, and property rights. Adherents of conservatism often oppose modernism and seek a return to traditional values.
What are some core ideas of conservatives quizlet?
Terms in this set (7)
- Human Imperfection. – They beileve that humans are imperfect and this cannot be changed. …
- The Need For Authority. – Without respect for authority, society would decent to total anarchy. …
- Tradition. …
- Organic View Of Society and Change To Conserve. …
- Pragmatism. …
- Paternalism. …
Which of the following is most closely linked to accounting conservatism?
Lower-of-cost-or-market rule . Lower of cost or market (LCM) is a conservative accounting approach to reporting inventory.
What is disclosure principle?
The full disclosure principle states that all information should be included in an entity’s financial statements that would affect a reader’s understanding of those statements.
What is the harm principle quizlet?
STUDY. definition. the state can only intervene on an individuals liberty if they pose as a harm to other people.
What is the matching principle quizlet?
The matching principle states that an expense must be recorded in the same accounting period in which it was used to produce revenue.
What is balance sheet report?
A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity. … It provides a snapshot of a company’s finances (what it owns and owes) as of the date of publication.
Which inventory valuation method should be used for unique items?
Companies with limited and unique products commonly use the specific identification method. The average cost method takes the average cost of all items held in inventory and values them according to the average price paid across all inventory items.
Which one is the correct explanation of matching principle?
Matching principle is the accounting principle that requires that the expenses incurred during a period be recorded in the same period in which the related revenues are earned. This principle recognizes that businesses must incur expenses to earn revenues.
Which of the followings is the main concern of matching principle quizlet?
The matching principle guides accounting for expenses and ensures: All expenses are recorded when they are incurred during the period. Expenses are matched against the revenues of the period. The goal is to compute an accurate net income or net loss for the time period.
What type of accounting is required by GAAP?
GAAP prefers the accrual accounting method because it records sales at the time they occur, which provides a clearer insight into a company’s performance and actual sales trends as opposed to just when payment is received.