Can a fully depreciated asset be revalued?

A fully depreciated assets can't be revealed, Fully depreciated assets that continue be used are reported at cost property. *THe cost principle prevent the company from recording more than its actual cost

A fully depreciated asset can't be revalued.

a fully depreciated asset  can be revalued  in  special cases such  purching acompany  or partener  come in or  out

No. A 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. Today the building continues to be used by the company and it plans to continue using it for many more years. The company's current balance sheet will report the building at its cost of $600,000 minus its accumulated depreciation of $600,000. In other words, the building will be reported at its book value of $0.

A fully depreciated asset cannot be revalued because of accounting's cost principle, matching principle, and going concern assumption.