A Revision of an Estimate That Extends the Asset's Useful

question 67

Multiple Choice

A revision of an estimate that extends the asset's useful life:

• A)requires restatement of prior years' financial statements.
• B)is ignored until the last year of the asset's life.
• C)decreases amortization expense per year for the remaining years of the asset's life.
• D)increases amortization expense per year for the remaining years of the asset's life.

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