A Change in the Estimated Useful Life of Equipment Requires

question 142

Multiple Choice

A change in the estimated useful life of equipment requires

• A) a retroactive change in the amount of periodic depreciation recognized in previous years.
• B) that no change be made in the periodic depreciation so that depreciation amounts are comparable over the life of the asset.
• C) that the amount of periodic depreciation be changed in the current year and in future years.
• D) that income for the current year be increased.

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Definitions:

Situational Attribution

The process of attributing a person's actions or behavior to external or environmental factors rather than to internal characteristics.

Dispositional Attribution

The tendency to attribute someone's behavior to their internal characteristics or personality rather than to external factors.

Emotional

Pertaining to feelings or affective states as opposed to cognitive states.

Physical

Physical refers to anything pertaining to the body or the material world, as opposed to the mind or spirit.