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Current Attempt in Progress Which one of the following statements regarding revision of depreciation rates is incorrect? No entry is made at the time a

Current Attempt in Progress

Which one of the following statements regarding revision of depreciation rates is incorrect?

No entry is made at the time a revision of depreciation rates occurs.

Opening balances are not adjusted when a change in estimate occurs.

Changes in estimate should be handled in the current period only.

Depreciation is computing by dividing the remaining book value less any salvage value by the remaining estimated life.

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