Consider the case below: At a recent meeting of top management, it was resolved that the company's
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Question:
Consider the case below: At a recent meeting of top management, it was resolved that the company's method of depreciation be changed for one that will help disclose a lower profit. This is the second time that management has decided to change their policy on accounting for depreciation in their desperate attempt to avoid tax.
Required:
State the accounting concept that would most probably be applied in addressing the accounting problem that arises. Then explain how the problem should be addressed.
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