Once an Asset Is Fully Depreciated No Additional Depreciation Can

question 67

True/False

Once an asset is fully depreciated no additional depreciation can be taken even though the asset is still being used by the business.

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Definitions:

Client-Visits

The act of meeting with clients in-person or virtually to discuss services, products, or business progress.

Personnel Expenses

Costs incurred by a business related to the compensation of its employees, including wages, benefits, and taxes.

Planning Budget

An estimated financial plan used primarily for strategic and operational planning within an organization.

Units

Basic quantities or entities used as a standard of measurement for inventory, production, or other business processes.