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:

Presentation Slides

Visual aids used in a presentation to display information, often in the form of a digital slideshow.

Bright Colours

Vivid and highly saturated hues that are visually striking and can attract attention.

Audience-Appropriate

Tailoring communication or content to suit the specific interests, level of understanding, and expectations of the intended audience.

Ragged Right Margins

A text layout style where the right edge of the text is uneven or not aligned, commonly used to create a more informal appearance in documents.