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Basic Question 3 of 9
True or False?
When a plant asset is being discarded or sold, it is necessary to update the accumulated depreciation and book value on the date of sale.
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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
explain and evaluate how impairment and derecognition of property, plant, and equipment and intangible assets affect the financial statements and ratios
CFA® 2024 Level I Curriculum, Volume 2, Module 7.