When an asset's residual value estimate is changed, the entire depreciation schedule for the asset is recomputed all the way back to the date of acquisition.

Name: When an asset's residual value estimate is changed, the entire depreciation schedule for the asset is recomputed all the way back to the date of acquisition.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

When an asset's residual value estimate is changed, the depreciation schedule is adjusted moving forward from the date of the change, not retroactively to the date of acquisition.

When an Asset's Residual Value Estimate Is Changed, the Entire