Once the Estimated Depreciation Expense for an Asset Is Calculated

Multiple Choice

Once the estimated depreciation expense for an asset is calculated:

A) The estimate itself cannot be changed; however, new information should be disclosed in financial statement footnotes.
B) Any changes are accumulated and recognized when the asset is sold.
C) It may be revised based on new information.
D) It cannot be changed, based on the historical cost principle.
E) It cannot be changed, based on the consistency principle.