A Change, for Depreciation Purposes, of Either Estimated Useful Life

question 137

True/False

A change, for depreciation purposes, of either estimated useful life or estimated residual value usually is referred to as a change in accounting estimate.

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Definitions:

Standard Of Behavior

The expected and acceptable way of acting or behaving in a given group, community, or society.

Laissez-Faire Leadership

A leadership style characterized by minimal supervision, where leaders provide the tools and resources needed but do not directly manage the process.

Formalizing Stage

A phase in group development where the structure of the group is solidified and rules and roles are established.

Group Development

A process through which a group evolves over time, typically moving through stages such as forming, storming, norming, performing, and adjourning.