Which of the Following Statements Is False

question 69

Multiple Choice

Which of the following statements is false?

• A)A company can change the method used for depreciating assets if the change can be justified because it provides a better measure of the company's profit.
• B)A change in estimate requires the company to recalculate and restate all the prior years' estimates of depreciation and adjust the impact on the statement of financial position and income statement.
• C)A change in estimate is frequently necessary because the estimates of useful lives or residual values may change over time because conditions change.
• D)Either a change in estimate or a change in method can only be justified on the basis it provides a better measure of profit.

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The initial cell formed when a sperm cell fertilizes an egg cell, representing the earliest stage of embryonic development.

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A contagious viral disease, also known as rubella, characterized by a red rash, fever, and swollen lymph nodes, often mild in children but potentially serious in pregnant women.

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The condition of lacking the power of hearing or having impaired hearing.

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The condition of having a developing embryo or fetus in the body, after union of an ovum and spermatozoon, which lasts about nine months in humans.