If a Fully Depreciated Plant Asset Is Still Used by a Company

question 79

Multiple Choice

If a fully depreciated plant asset is still used by a company the

• A) estimated remaining useful life must be revised to calculate the correct revised depreciation.
• B) asset is removed from the books.
• C) accumulated depreciation account is removed from the books but the asset account remains.
• D) asset and the accumulated depreciation continue to be reported on the balance sheet without adjustment until the asset is retired.

---

Definitions:

Cooperation

The process of groups or individuals working together towards a common goal, often resulting in mutual benefit and shared success.

Self-objectification

The tendency to perceive oneself primarily as an object to be looked at and evaluated based on physical appearance.

Stereotype Threat

The fear or anxiety of confirming negative stereotypes about one’s group, which can impair performance.

Ingroup Bias

The tendency to favor members of one's own group over those in other groups, often leading to preferential treatment and prejudice.