The Original Depreciation or Amortization Schedule for Long-Lived Assets Sometimes

question 111

Multiple Choice

The original depreciation or amortization schedule for long-lived assets sometimes requires changing.Which of the following is/are not true?

• A)Each period a firm must evaluate its estimates of service life and assess if these estimates require changing in light of new information.
• B)Each period a firm must evaluate its estimates of salvage value and assess if these estimates require changing in light of new information.
• C)The firm makes no adjustment for the inaccurate estimates but spreads the remaining carrying value less the new estimate of salvage value over the new estimate of the remaining service life of the asset.
• D)If changing from the old estimates to the new estimates would have a material impact, the firm must change the depreciation or amortization schedule retroactively.
• E)none of the above

Identify the effects of trade measures on the price of domestic goods and the global economy.

Understand the influence of global marketing developments on international trade.

Recognize the role and functions of the World Trade Organization (WTO) in facilitating and regulating international trade.

Understand the economic integration and its benefits within entities like the European Union.

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Definitions:

Supply

The total amount of a product or service available for purchase at any given time in the market.

Hurricane

A tropical cyclone with winds exceeding 74 mph, typically characterized by rain, thunderstorms, and strong winds.

Inferior Good

A type of good for which demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at those prices.