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A change in the estimated useful life of equipment requires A. That no change be made in the periodic depreciation so that depreciation amounts are c...

Question:

A change in the estimated useful life of equipment requires A. That no change be made in the periodic depreciation so that depreciation amounts are comparable over the life of the asset. B. That the amount of periodic depreciation be changed in the current year and in future years. C. That income for the current year be increased. D. a retroactive change in the amount of periodic depreciation recognized in previous years. Answer: B. That the amount of periodic depreciation be changed in the current year and in future years.

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