Which one of the following statements does not require any adjustment to a company's accounts?

A) changing depreciation methods on currently owned assets
B) using a new estimated useful life in calculating depreciation
C) discovering an error in depreciation taken in a previous period
D) adopting a new depreciation method on newly acquired assets

Changing Depreciation Methods

The process of altering the accounting method used to allocate the cost of a tangible asset over its useful life for financial reporting purposes.

Newly Acquired Assets

Newly acquired assets refer to assets that a company or individual has recently purchased or obtained, which can include equipment, property, or financial instruments.