N.Y. Comp. Codes R. & Regs. tit. 10 § 451.231
Current through Register Vol. 46, No. 51, December 18, 2024
The substitution of one fixed asset for another, particularly of a new asset for an old, or of a new part for an old part. On the books of account, the recognition of the cost of the new asset requires the elimination of the cost of the asset it replaces.
N.Y. Comp. Codes R. & Regs. Tit. 10 § 451.231