Annual depreciation expense needs to be revised if
A) there is an impairment loss.
B) repairs are completed to restore the asset to its prior condition.
C) insurance premiums on the asset increase.
D) worn out parts are replaced.

Question

Quizplus · Accepted Answer

Annual depreciation expense may need to be revised if there is an impairment loss, as this would reduce the asset's carrying amount, potentially altering the depreciation calculation.

Annual Depreciation Expense Needs to Be Revised If