Fully Depreciated

Aid of a fixed asset to which all the Depreciation the tax law allows has been charged. Asset is carried on the books at its Residual Value although its Liquidating Value may be higher or lower.

Said of a fixed asset to which all the Depreciation the accounting or tax law allows has been charged. The asset is carried on the books at its Residual Value, although its Liquidating Value may be higher or lower.