Once an asset is fully depreciated,it may not be used any more,but must be sold or disposed of.

Name: Once an asset is fully depreciated,it may not be used any more,but must be sold or disposed of.
Brand: Quizplus
Rating: 4.8 (55 reviews)

Question

Quizplus · Accepted Answer

This statement is false. While an asset may no longer be generating depreciation expenses, it may still be used by the company. However, if the company chooses to dispose of the asset, it must follow proper disposal methods in accordance with accounting and tax regulations.

Once an Asset Is Fully Depreciated,it May Not Be Used