Estimated depreciation expense for an asset is calculated

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Reference no: EM131208718

Once the estimated depreciation expense for an asset is calculated:

a. it cannot be changed based on historical cost principle

b. it may be revised based on new information

c. any changes are accumulated and recognized when the asset is sold

d. the estimate itself cannot be changed, however new information should be disclosed inf inancal statement footnotes

e. it cannot be changed, based on the consistency principle

Reference no: EM131208718

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