Which of the following statements is not true when a fully depreciated plant asset is retired?
A) The plant asset's book value is equal to its estimated salvage value.
B) The accumulated depreciation account is debited.
C) The asset account is credited.
D) The plant asset's original cost equals its book value.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is not true when a fully depreciated plant asset is retired?
A) The plant asset's book value is equal to its estimated salvage value.
B) The accumulated depreciation account is debited.
C) The asset account is credited.
D) The plant asset's original cost equals its book value.

Which of the Following Statements Is Not True When a Fully