Asked by Alicia Gregory on May 01, 2024
Verified
When depreciation estimates are revised, all years of the asset's life are affected.
Depreciation Estimates
Projections or calculations made regarding the decrease in value of tangible assets over time due to use, wear, or obsolescence.
- Acknowledge the potential for adjustments in depreciation estimates and comprehend their effects.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
False
Explanation :
When depreciation estimates are revised, it affects the depreciation expense calculation from the point of revision forward, not the years that have already passed.
Learning Objectives
- Acknowledge the potential for adjustments in depreciation estimates and comprehend their effects.
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