A Machine Originally Had an Estimated Service Life of 5

question 79

Multiple Choice

A machine originally had an estimated service life of 5 years,and after 3 years,it was decided that the original estimate should have been for 10 years.The remaining cost to be depreciated should be allocated over the next

• A)2 years
• B)5 years
• C)6 years
• D)7 years
• E)10 years

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Definitions:

Household Purposes

Activities or tasks carried out within a home for the benefit of its occupants, often relating to daily living and maintenance.

Perfected in One State

A legal status indicating that a security interest or lien is officially recorded or acknowledged in a particular state, safeguarding the rights of the lienholder.

Transfer to Another State

The process of moving a legal case or an individual, such as a parolee or prisoner, from one state's jurisdiction to another.

Four Months

A period of time equal to approximately 120 days, often used in the context of timelines for projects, payments, or legal matters.