Which of the Following Is a Change in an Accounting

question 39

Multiple Choice

Which of the following is a change in an accounting estimate?
I. A change from straight line depreciation to an accelerated depreciation method.
II. A change in estimated salvage value of depreciable asset.
III. A change in estimated useful life of an asset.
IV. Recording depreciation for the first time on machinery purchased five years ago.

• A) I, II, III and IV
• B) II, III and IV
• C) I, III and IV
• D) II and III

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Definitions:

Amino Acids

Organic substances that amalgamate to produce proteins, functioning as life's essential building blocks.

Source Of Nitrogen

A substance or process that supplies nitrogen, essential for plant growth and various biological processes.

Proteins

Large biomolecules composed of amino acids, essential for the structure, function, and regulation of the body's tissues and organs.

Structure Of Body Cells

The arrangement and organization of the components within a cell that determine its function and properties.