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    Financial Accounting Study Set 13
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    Exam 9: Reporting and Interpreting Liabilities
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    When Either the Estimated Useful Life or Estimated Residual Value
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When Either the Estimated Useful Life or Estimated Residual Value

Question 97

Question 97

True/False

When either the estimated useful life or estimated residual value (or both)of an operational asset are changed,all prior financial statements are reissued reflecting the correction retroactively.

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