Once the Estimated Depreciation Expense for an Asset Is Calculated

question 158

Multiple Choice

Once the estimated depreciation expense for an asset is calculated:

• A)It cannot be changed,based on 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 cannot be changed,based on the consistency principle.

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Definitions:

Lower Intestine

Part of the digestive system that includes the large intestine and rectum, involved in water absorption and feces formation.

Osmotic Thirst

A type of thirst arising from a high concentration of solutes in the body's fluids, prompting the desire to drink to dilute them.

Hypovolemic Thirst

Thirst caused by low fluid volume in the body due to factors such as bleeding or high levels of sweating.

Dehydration

A condition resulting from excessive loss of body water, affecting the body's ability to carry out normal functions.