When There Is a Change in the Useful Life of an Asset

question 121

Multiple Choice

When there is a change in the useful life of an asset, depreciation must be revised if you are using

• A) straight-line depreciation.
• B) units-of-production depreciation.
• C) diminishing-balance depreciation.
• D) any of the above depreciation methods.

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Definitions:

Tolman's View

An approach in psychology proposed by Edward C. Tolman that emphasizes the role of cognition and purposive behavior in understanding learning.

Learning

A relatively permanent change in behavior potential that occurs as a result of experience.

Learned Helplessness

A scenario in which an individual is plagued by feelings of helplessness, caused by either a distressing event or repeated failures to accomplish their goals.

Seligman

Known for his work on learned helplessness and its connection to depression, proposing that it results from a perceived lack of control over the outcome of a situation.