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Find which is not a true statement regarding residual value

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Problem 1: Which of the following is NOT a true statement regarding residual value?

Option 1: An asset cannot be depreciated beyond its residual value.

Option 2: The asset's owner determines what the residual value will be.

Option 3: It is an estimate of an asset's book value when fully depreciated.

Option 4: Residual value is found below the referenced asset with a credit balance.

Reference no: EM132626729

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