Once an Asset Has Been Abandoned, Amortization Stops and It

question 126

True/False

Once an asset has been abandoned, amortization stops and it is written down to its recoverable value.

---

Definitions:

Holder

An individual or entity that legally possesses a financial instrument, such as a check, bond, or stock certificate.

Transfer

The act of moving or conveying something from one person, place, or situation to another.

Note

A note is a brief record of facts, topics, or thoughts, written down as an aid to memory.

Dishonored

A term often used in finance to describe the refusal of a bank to pay a check or draft presented against insufficient funds.