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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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Edward Liu
Learning Outcome Statements
explain the derecognition of property, plant, and equipment and intangible assets;
explain and evaluate how impairment, revaluation, and derecognition of property, plant, and equipment and intangible assets affect financial statements and ratios;
CFA® 2024 Level I Curriculum, Volume 3, Module 23.