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Discuss which accounting principles would be violated

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Question - In Year 2017, Rumi Limited used the double-declining balance method to calculate depreciation expense for its machine. The director of Rumi Limited questioned about the amount of depreciation expense of 2017. He suggested to change the depreciation method in 2018 to reflect better performance of the company.

Discuss which accounting principles would be violated and state the implications and consequences if Rumi Limited changed the depreciation method in 2018 as suggested by the director.

Reference no: EM132538738

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