A Change in the Estimated Useful Life of a Building

Multiple Choice

A change in the estimated useful life of a building

A) is not allowed by generally accepted accounting principles.
B) affects the depreciation on the building beginning with the year of the change.
C) must be handled as a retroactive adjustment to all accounts affected,back to the year of the acquisition of the building.
D) creates a new account to be recognized on the income statement reflecting the difference in net income up to the beginning of the year of the change.