What must the business do in regard to depreciation expense

Reference no: EM131819964

Question: 1. How does a business decide which depreciation method is best to use?

2. What is the depreciation method that is used for tax accounting purposes? How is it different than the methods that are used for financial accounting purposes?

3. If a business changes the estimated useful life or estimated residual value of a plant asset, what must the business do in regard to depreciation expense?

Reference no: EM131819964

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