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What significant debits to accumulated depreciation accounts

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Reference no: EM132471628

Question 1: Which of the following explanations most likely would satisfy an auditor who questions management about significant debits to the accumulated depreciation accounts?

Multiple Choice

Option 1: The estimated remaining useful lives of plant assets were revised upward.

Option 2: Plant assets were retired during the year.

Option 3: The prior year's depreciation expense was erroneously understated.

Option 4: Overhead allocations were revised at year-end.

Reference no: EM132471628

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