Fully Functional Change Occurs When Incremental Improvements Are Made to a Dominant

question 81

True/False

Fully functional change occurs when incremental improvements are made to a dominant technological design. In a fully functional change, the improved version of the technology is fully backward compatible with the older version.

Identify plant assets and differentiate them from intangible assets.

Apply the units-of-production depreciation method and calculate accumulated depreciation.

Understand the difference between capital expenditures (betterments) and revenue expenditures (repairs).

Compute book value and recognize gain or loss on the sale of assets.