Changes in an Estimate, Such as a Change in the Estimated

question 101

True/False

Changes in an estimate, such as a change in the estimated useful life of an asset for depreciation purposes, affect consistency but not comparability, and therefore require an explanatory paragraph in the audit report.

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Definitions:

Variable-Ratio

A type of reinforcement schedule used in operant conditioning where reinforcement is given after an unpredictable number of responses.

Fixed-Ratio

A schedule of reinforcement where a response is only rewarded after a specified number of responses, often used in behaviorist experiments.

Fixed-Interval

In the context of operant conditioning, a schedule of reinforcement where rewards are given at fixed times, provided the correct response is made.

Smelled Food

The act of detecting the aroma of food, which can trigger physiological reactions such as salivation and influence appetite.