If assets are junked before being fully depreciated,there is a loss equal to the book value of the asset.

Name: If assets are junked before being fully depreciated,there is a loss equal to the book value of the asset.
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Question

Quizplus · Accepted Answer

When assets are junked before being fully depreciated, the book value of the asset is the amount that has not yet been depreciated. Therefore, if the asset is junked, there will be a loss equal to the book value of the asset.

If Assets Are Junked Before Being Fully Depreciated,there Is a Loss