Assuming no additions,replacements,or extraordinary repairs,the carrying value of a long-lived asset is never more than its original cost.

Question

Quizplus · Accepted Answer

This is because the carrying value of a long-lived asset is the cost of the asset minus any accumulated depreciation or impairment charges. Therefore, even if the asset has appreciated in value due to inflation or market conditions, the carrying value cannot exceed its original cost.

Assuming No Additions,replacements,or Extraordinary Repairs,the Carrying Value of a Long-Lived