(Solution) - For some of the fixed assets of a business the balance -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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For some of the fixed assets of a business, the balance in Accumulated Depreciation is exactly equal to the cost of the asset.
(a) Is it permissible to record additional depreciation on the assets if they are still useful to the company? Explain.
(b) When should the cost and the accumulated depreciation be removed from the accounts?