Before accounting for the disposal of a plant asset,the business should bring depreciation up to date in order to determine the asset's original cost.

Name: Before accounting for the disposal of a plant asset,the business should bring depreciation up to date in order to determine the asset's original cost.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Depreciation is updated to determine the asset's book value (cost minus accumulated depreciation), not its original cost. The original cost remains unchanged.

Before Accounting for the Disposal of a Plant Asset,the Business