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Change in Estimate: Depreciation
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Change in Estimate: Depreciation
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8. Long Lived Assets / Change in Estimate: Depreciation / Problem 3
Problem 3
Which of the following is an example of a change in accounting estimate?
A
Revising the useful life of an asset based on new information.
B
Correcting a mathematical error in previous depreciation calculations.
C
Adjusting the financial statements for prior periods.
D
Switching from straight-line to double-declining balance depreciation.
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