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Who determines how long buildings and the furniture and equipment are to last?

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Who determines how long buildings and the furniture and equipment are to last? What if asset depreciation would change from 5% and 10% to 4% and 8%? What would the effect on net income?

Who determines the dollar amount for allowance for bad debts?

What if Allowance for Bad Debts was reduced to $1000. What would the effect on net income?

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Who determines how long buildings and the furniture and equipment are to last? What if asset depreciation would change from 5% and 10% to 4% and 8%? What would the effect on net income?

The accounting life of buildings and furniture and equipment are usually determined by the depreciation duration. Number of years = 1 / annual depreciation rate.
In the US, it could be decided by Modified Accelerated Cost Recovery System (MACRS). ...

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