If disposal of an asset occurs during the year, depreciation is
A) not recorded for the year.
B) recorded for the whole year.
C) recorded for the fraction of the year to the date of the disposal.
D) not recorded if the asset is scrapped.

Question

Quizplus · Accepted Answer

Depreciation is recorded for the portion of the year up to the date of disposal, reflecting the asset's use until it was disposed of.

If Disposal of an Asset Occurs During the Year, Depreciation