Explain the Impact,if Any,on Depreciation When Depreciation Estimates Change

question 71

Essay

Explain the impact,if any,on depreciation when depreciation estimates change.

---

Definitions:

Shareholder

An individual or entity that owns shares in a corporation and has potential financial gains or losses based on the company's performance.

Corporation

A legal entity that is separate and distinct from its owners, possessing rights and responsibilities, capable of conducting business, entering into agreements, and owning property.

Novation

The act of replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party.

Valid Obligation

A legal term denoting a binding duty or commitment that has been established through proper legal or contractual procedures, enforceable by law.