Once an asset is fully depreciated no additional depreciation can be taken even though the asset is still being used by the business.

Name: Once an asset is fully depreciated no additional depreciation can be taken even though the asset is still being used by the business.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Once an asset is fully depreciated, its value has been written off completely and no further depreciation can be taken. However, the asset may still be used by the business until it is no longer functional or useful.

Once an Asset Is Fully Depreciated No Additional Depreciation Can