Practice Change in Method of Depreciation - 18.9 | 18. Depreciation Accounting | Management 1 (Organizational Behaviour/Finance & Accounting)
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Knowledge

18.9 - Change in Method of Depreciation

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What does retrospective application mean in the context of depreciation?

💡 Hint: Think about how changes are applied.

Question 2

Easy

Name one reason a company might change its depreciation method.

💡 Hint: Consider the factors affecting asset usage.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is a primary reason for changing the method of depreciation?

  • Company Growth
  • Change in Usage Pattern
  • Cost Reduction

💡 Hint: Consider how asset usage impacts financial decisions.

Question 2

True or False: Changes in accounting estimates are applied retrospectively.

  • True
  • False

💡 Hint: Think about how future financial statements are affected.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company has assets that were initially depreciated using the straight-line method. Due to increased production, they want to shift to the declining balance method. Outline the steps they would take to implement this change.

💡 Hint: Consider what information needs to be reviewed before making the change.

Question 2

Reflect on a situation where a business’s change in usage leads to a new depreciation estimate. Discuss the financial implications it might have for its balance sheet.

💡 Hint: Think about how useful lives affect financial performance over time.

Challenge and get performance evaluation