Which statement is NOT true concerning changes in depreciation method? a) The cumulative effect of the change must be reported separately and net of taxes. b) A firm may change the reported depreciation of fixed assets by changing the asset lives. c) A company can change its depreciation method for newly acquired assets and continue to depreciate previously acquired similar assets using the same method as in the past. d) Changes in salvage values are considered changes in accounting principle.
d) Changes in salvage values are considered changes in accounting principle. They are a change in accouting estimate. So D is my choice.
It’s D.
D for sure
Yup, it is D
yup D is the answer