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  3. Study Set
    Fundamental Accounting Principles Study Set 1
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    Exam 10: Plant Assets Natural Resoures and Intangibles
  5. Question
    Revising an Estimate of the Useful Life or Salvage Value
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Revising an Estimate of the Useful Life or Salvage Value

Question 233

Question 233

True/False

Revising an estimate of the useful life or salvage value of a plant asset is referred to as a change in accounting estimate and is reflected in the current, and future financial statements.

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