Once the Useful Life of a Depreciable Asset Has Been

question 22

True/False

Once the useful life of a depreciable asset has been estimated and the amount to be depreciated each year has been determined, the amounts cannot be changed.

---

Definitions:

Subleased

To lease a property by a tenant to a third party, effectively transferring some of the tenant's leasing rights.

Assigned

Assigned refers to the transfer of rights, duties, or properties from one party to another, either through agreement or by law.

Implied Warranty of Habitability

A legal doctrine in real estate law that requires rental properties to be livable, safe, and sanitary before being leased.

Residential Property Leases

Legal agreements granting the right to occupy or use residential property for a specified period.