If an asset is fully depreciated,but it can continue to be used,the asset account and accumulated depreciation balance remain on the books,and no further depreciation is recorded.

Question

Quizplus · Accepted Answer

Once an asset is fully depreciated, it means its cost has been fully expensed over its useful life. However, it does not mean that the asset cannot continue to be used. Therefore, the asset account and accumulated depreciation balance remain on the books, but no further depreciation is recorded.

If an Asset Is Fully Depreciated,but It Can Continue to Be