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Which of the following is true when the estimate of an asset's useful life is changed? A . Prior years' financial statements must be restated.
Which of the following is true when the estimate of an asset's useful life is changed?
A Prior years' financial statements must be restated.
B The depreciation expense in the prior years is restated.
C The new estimate is ignored until the last year of the asset's life:
D The asset's remaining depreciable book value will be spread over the asset's new useful life.
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