A Change in the Estimated Useful Life of Equipment Requires

question 90

Multiple Choice

A change in the estimated useful life of equipment requires

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

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Definitions:

Translocation

The movement of organic materials (dissolved food) in the phloem of a plant. Chromosome abnormality in which part of one chromosome has become attached to another. Part of the elongation cycle of protein synthesis in which a transfer RNA attached to the growing polypeptide chain is transferred from the A site to the P site.

Ribosome

Cellular organelles that synthesize proteins by translating mRNA sequences.

tRNA

Transfer RNA, a type of RNA molecule that helps decode a messenger RNA (mRNA) sequence into a protein during the process of translation.

Polyribosome

A complex consisting of a number of ribosomes attached to an mRNA during translation; also known as a polysome.