A Change in the Estimated Useful Life of a Plant

question 118

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 in prior periods.

---

Definitions:

Three-Step Writing Process

A structured approach to writing that includes planning, drafting, and revising to produce effective written communication.

Specific Purpose

The particular goal or intention behind a speech, presentation, or written document.

Business Message

Information or a communication conveyed by a company to its employees, customers, or stakeholders.

Realistic Goals

Objectives that are practical and achievable, taking into account current resources and constraints.