When Accumulated Depreciation Equals the Asset's Cost,the Asset Is Fully

question 67

True/False

When accumulated depreciation equals the asset's cost,the asset is fully depreciated.The entry to record the removal of the asset is called exchanging the equipment.

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Definitions:

Kilometers (Km)

A unit of length in the metric system equal to one thousand meters or approximately 0.62 miles.

Gallons

A unit of volume primarily used in the United States for measuring liquids and gases.

Gasoline

A petroleum-derived liquid mixture, primarily used as fuel in internal combustion engines.

Centimeters

A unit of length in the metric system equal to one hundredth of a meter.