A Change in the Salvage Value of an Asset Depreciated

question 7

Multiple Choice

A change in the salvage value of an asset depreciated on a straight-line basis and arising because additional information has been obtained is

• A) An accounting change that should be reported in the period of change and future periods of change if the change affects both
• B) An accounting change that should be reported by restating the financial statements of all prior periods presented
• C) A correction of an error
• D) Not an accounting change

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Definitions:

Digital Animation

The process of creating moving visuals or characters using digital technology.

Animation Frame

A single still image in a sequence compiled to create the illusion of motion in animation.

Digital Graphic

A visual image or design created or enhanced through digital technology and displayed electronically.

3-D Illustration

A graphical representation that gives objects a three-dimensional appearance for more realistic visualization.