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After Using an Expected Useful Life of Seven Years and No

question 54

True/False

After using an expected useful life of seven years and no residual value to depreciate its machine over the preceding two years,a company decided early this year that the machine would last only three more years.The change in accounting estimate results in an adjustment to ending retained earnings for the prior period with no impact on any future periods.

Understand how organizational culture influences employee behavior and attitudes.

Learn the role of non-verbal expressions and language in communicating aspects of corporate life.

Understand the impact of organizational culture on the treatment of employees and the importance of inclusion and respect.

Recognize the significance of matching personal preferences with organizational culture and change pace.

Definitions:

Equity Method

An accounting technique used by a company to record its investment in another company based on the profit or loss and changes in the investee’s equity.

Significant Influence

A level of control exerted by an investor over an investee, characterized by the power to participate in financial and operating policy decisions without having full control or majority ownership.

Book Value

The net value of a company's assets minus its liabilities, reported on the balance sheet. It represents the shareholders' equity in the company.

A form of legal protection given to creators of original works, granting them exclusive rights to use, distribute, and control the use of their work.