Asked by Marianne Claire on Jun 11, 2024

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An asset still in use beyond its life estimate is said to be:

A) a good investment.
B) fully depreciated.
C) fully functional.
D) in poor condition.

Fully Depreciated

An asset's state when it has amortized or written off its entire initial cost over its useful life, leaving it with a book value of zero or minimal value.

Asset

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Life Estimate

A projection or approximation of the duration or longevity of an entity, product, or component.

  • Acquire knowledge on the subject of depreciation and its effects on financial documentation.
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WH
william hansenJun 17, 2024
Final Answer :
B
Explanation :
When an asset is still in use beyond its estimated life, it is considered to be fully depreciated, meaning its cost has been completely allocated over its useful life according to accounting principles.