Which of the following statement is incorrect? Group of answer choices Once a company decides the information
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Question:
Which of the following statement is incorrect?
Group of answer choices
Once a company decides the information to calculate deprecation for a plant asset, it cannot make any changes over the life of the asset even though new information may come to light that indicates the original estimates were inaccurate.
A company can dispose of a plant asset through a sale, abandonment, or exchange.
During the PPE use, companies need to review the assets to determine whether any of the assets are impaired.
A company can depreciate different assets using different depreciation rates and different useful lives.
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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