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

question 88

Multiple Choice

Which of the following is true when the estimate of an asset's useful life is changed?

• A)The new estimate is ignored until the last year of the asset's life.
• B)The depreciation expense in the prior year is restated.
• C)Prior years' financial statements must be restated.
• D)The asset's remaining depreciable book value will be spread over the asset's remaining life.

---

Definitions:

Horizontal Axis

In a graph or chart, the x-axis, which often represents the independent variable or the specific interval being measured.

Credit Hours

Units that reflect the number of hours a student has invested in attending a particular course over a specified period.

House Calls

Visits made by professionals, such as doctors or technicians, to a patient or customer's home to provide services.

Histograms

Graphical representations of data that show the distribution of a dataset across different bins or intervals.