jdsfdujfi1484 jdsfdujfi1484
  • 25-02-2022
  • Business
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A change in the estimated useful life and residual value of machinery in the current year is handled as:

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williamli5464 williamli5464
  • 27-02-2022

Answer: change in accounting estimate

Explanation: a change in estimate can occur when the company change the estimate used to calculate depreciation. As such, it requires a prospective application accounting treatment meaning the affect of the change on depreciation is only for the current and future years only.

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