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If a companys fully depreciated asset that had not salvage value was scrapped but not removed from the accounting records, what would be the effect
If a companys fully depreciated asset that had not salvage value was scrapped but not removed from the accounting records, what would be the effect on the companys financial statements?
A. The asset account and the accumulated depreciation account would be overstated by the same amount.
B. There would be no effect on the net asset book value.
c. Neither a nor b is correct.
d. Both a and b are correct.
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