Once the Estimated Depreciation for an Asset Is Calculated

question 31

Multiple Choice

Once the estimated depreciation for an asset is calculated

• A)It cannot be changed due to the historical cost principle
• B)It may be revised based on new information
• C)Any changes are accumulated and recognized when the asset is sold
• D)The estimate itself cannot be changed,however,new information should be disclosed in financial statement footnotes
• E)It may be revised based on new information and any changes are accumulated and recognized when the asset is sold

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Definitions:

TT

Often refers to "Temperature Transmitter," a device that converts temperature measurements into a standardized output signal for process control.

Output Coil

A component in PLC programming that represents a physical output device and is controlled by turning it on or off within the program.