Let's say a company estimates the useful life of vehicle at 10 years

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Ze.Haxabja

Business Finance

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This is a class question that needs to be answer with at least 150 words. I would like it explain in your own words, but if not please cite-in-text with reference. No Plagiarism

Let's say a company estimates the useful life of vehicle at 10 years but then decides in year 2 that the useful life will only be 5 years. What happens to the amount of depreciation left on the vehicle? Are prior periods corrected or is the change only made moving forward?

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Let's say a company estimates the useful life of vehicle at 10 years but then
decides in year 2 that the useful life will only be 5 ...


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