If a company determines that due to damage,the recoverable cost of its asset is reduced,it increases accumulated depreciation.

Name: If a company determines that due to damage,the recoverable cost of its asset is reduced,it increases accumulated depreciation.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a company determines that the recoverable cost of its asset is reduced, it records an impairment loss, not an increase in accumulated depreciation.

If a Company Determines That Due to Damage,the Recoverable Cost