A Change in the Estimated Useful Life of a Plant

question 240

True/False

A change in the estimated useful life of a plant asset may cause a change in the amount of depreciation recognized in the current and future periods but not to prior periods.

---

Definitions:

Envied Person

An individual who is the subject of envy due to possessing something desirable that others lack, such as wealth, talent, or status.

Envier

A person who feels discontent or covetousness with regard to someone else's advantages, success, or possessions.

Pareto Optimal

A state in resource allocation where it's infeasible to uplift one individual's status without inflicting loss on another.

Allocation

The process of distributing resources or goods among various accounts or individuals, based on specific criteria or decisions.