If a Fully Depreciated Long-Lived Asset Is Still Used by a Company

question 174

Multiple Choice

If a fully depreciated long-lived 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.

Comprehend the concept of ecological efficiency and its implications on energy transfer across trophic levels.

Identify the distribution and significance of freshwater sources.

Understand the dynamics of carbon transfer among nonbiological reservoirs.

Differentiate between biological and nonbiological reservoirs in biogeochemical cycles.

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