When a Change in Estimate Is Required,the Company Changes Depreciation

question 11

True/False

When a change in estimate is required,the company changes depreciation in prior,current and future years.
When a change in estimate is required,the company changes depreciation in current and future years,but not in prior periods.

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Definitions:

Unselfish Devotion

A commitment or dedication to the welfare of others without expecting any reward or benefits in return.

Environmental Protection

Efforts and policies aimed at preserving the natural environment from degradation and pollution.

Pollution Control

Strategies and measures implemented to reduce or eliminate the emission of pollutants into the environment.

Threatened Regulation

When businesses or industries adjust their practices in anticipation of potential government regulations that could impact their operations.