Which of the Following Statements Is Not True When a Fully

question 145

Multiple Choice

Which of the following statements is not true when a fully depreciated plant asset is retired?

• A) The plant asset's book value is equal to its estimated salvage value.
• B) The accumulated depreciation account is debited.
• C) The asset account is credited.
• D) The plant asset's original cost equals its book value.

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Definitions:

Detailed Multiview

A compilation of several different views of an object in a single drawing, providing detailed perspectives from different angles for comprehensive understanding.

Pictorial Assembly

A detailed drawing showing how different parts of an object fit together, using three-dimensional visual representation for clarity.

Subassembly Drawing

Technical drawings that detail how a part of a larger assembly, or subassembly, is constructed or fits together.

Complex Product

A complex product consists of multiple components, often involving intricate design and engineering to meet specific functionality and performance requirements.