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:

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