Once the Estimated Depreciation Expense for an Asset Is Calculated

Multiple Choice

Once the estimated depreciation expense for an asset is calculated:

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