When an asset is fully depreciated:
A) the book value is zero, and the asset has no market value.
B) the book value is equal to the salvage value, and the asset has reached the end of its estimated useful life.
C) the depreciable cost is equal to the salvage value, and the asset is of no further use to the company.
D) the total depreciation is equal to the accumulated depreciation, and the asset has reached the end of its actual useful life.
Correct Answer:
Verified
Q14: Equipment acquired on January 1, 2006, is
Q15: Equipment costing $47,500 with a book value
Q16: Bixby Corporation purchased land and a building
Q17: Needles Company purchased Boston Company on August
Q18: All of the following are intangible assets
Q20: Which of the following should be included
Q21: The depreciable cost of an asset is
Q22: On January 2, 2006, KJ Corporation acquired
Q23: Patents are amortized over a period:
A)of 20
Q24: A loss is recorded on the sale
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents