The FASB Standards Do Not Have a Specific Rule That

question 135

True/False

The FASB standards do not have a specific rule that requires residual value and asset life to be reviewed annually for property,plant,and equipment.

---

Definitions:

Basket Of Goods

A fixed set of consumer products and services valued on a regular basis for purposes of tracking inflation.

CPI

The Consumer Price Index measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Every Month

Refers to occurrences or measurements that happen or are evaluated on a monthly basis.

Bureau Of Labor Statistics

A U.S. government agency responsible for collecting and analyzing data related to employment, wages, and other aspects of the workforce.