Assuming no additions,replacements,or extraordinary repairs,the carrying value of a long-lived asset is never more than its original cost.
BT: Comprehension

Question

Quizplus · Accepted Answer

According to the statement, the carrying value of a long-lived asset is never more than its original cost, assuming no additions, replacements, or extraordinary repairs. Therefore, the statement is true.

Assuming No Additions,replacements,or Extraordinary Repairs,the Carrying Value of a Long-Lived