Which of the Following Is TRUE When the Estimate of an Asset's

question 133

Multiple Choice

Which of the following is TRUE when the estimate of an asset's useful life is increased?

• A)Annual depreciation expense is decreased for the remaining years of the asset's life.
• B)Prior years' financial statements must be restated.
• C)The new estimate is ignored until the last year of the asset's life.
• D)Annual depreciation expense is increased for the remaining years of the asset's life.

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Definitions:

Confidentiality

The ethical principle or legal right that a professional will keep certain information shared by clients or patients strictly private.

Duty to Protect

Duty to protect is a legal and ethical obligation of mental health professionals to take steps to protect individuals who are in imminent danger of harming themselves or others.

Aftercare

A program of post-hospitalization care and treatment in the community.

State Mental Hospital

A public institution providing inpatient psychiatric care and treatment for individuals with mental health disorders.