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.

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Definitions:

Sexual Harassment

Unwanted or unwelcome sexual advances, remarks, or physical contact, which can create a hostile work environment and is considered illegal and unethical.

Pay Discrimination

The unequal treatment of employees, where individuals performing the same work are paid differently based on gender, race, age, or other non-job-related factors.

Job Discrimination

What occurs when someone is denied a job or work assignment, or treated differently from other employees, for reasons that are not job relevant. Laws in Canada protect workers from discrimination on the grounds of race, national or ethnic origin, colour, religion, sex, age, mental or physical disability, pregnancy, marital status, and gender identity.

Consumer Surplus

The disparity between what consumers are prepared and capable of paying for a product or service and the actual amount they end up paying.