4. In depreciating the cost of an asset, accountants are most concerned with: recognizing revenue in the appropriate period. recognizing expense in the appropriate period. conservatism. full disclosure. 5. The primary objective of expense recognition is to: provide full disclosure. record expenses in the period that related revenues are recognized. promote comparability between financial statements of different periods. provide timely information to decision makers. 6. The economic entity assumption states that, in the absence of contrary evidence, all entities will survive indefinitely. False True