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Can a fully depreciated asset be revalued?

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Question added by Rana Alnajjar , Web developer , Lebcards
Date Posted: 2016/12/05
Doaa Mohamed
by Doaa Mohamed , Marketing Manager , Baheya Foundation for Breast Cancer Treatment

fully depreciated asset cannot be revalued because of accounting's cost principle, matching principle, and going concern assumption. For instance, let's assume that a company purchased a building 30 years ago at a cost of $600,000. The company then depreciated the building at a rate of $20,000 per year for 30 years.

Khaliq Raza MBA   MS   CFE  AFA
by Khaliq Raza MBA MS CFE AFA , Finance Manager , Vertex Trading

Well Said by Ms Doaa Mohamed