If an Asset Is Disposed of During the Year,there Is

question 1

True/False

If an asset is disposed of during the year,there is no need to calculate depreciation from the beginning of the year of disposal to the date of disposal.

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Definitions:

Earth's Crust

The Earth's crust is the outermost solid shell of the planet, composed of rock, and is the surface upon which we live. It varies in thickness and is thinner under the oceans and thicker under continental land masses.

Quartz

A hard, crystalline mineral composed of silicon and oxygen atoms, widely used in jewelry and as an industrial abrasive.

Feldspar

A group of rock-forming minerals that are among the most abundant minerals in the Earth's crust, used in ceramics and glassmaking.

Oxide Minerals

Minerals composed of oxygen and one or more metals, common in the Earth's crust and important in various geological processes.