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Margaret Asabere
on Nov 12, 2024

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Accumulated Depreciation appears on the

A) balance sheet in the current assets section
B) balance sheet in the property, plant, and equipment section
C) balance sheet in the long-term liabilities section
D) income statement as an operating expense

Accumulated Depreciation

Accumulated depreciation accounts for the total amount of depreciation expense that has been claimed over the life of an asset, reducing its book value.

Balance Sheet

A report that lists a business's assets, obligations, and the equity of its shareholders on a specific date.

Property, Plant, and Equipment

The tangible long-lived assets used in the operations of a business, including land, buildings, machinery, and equipment.

  • Comprehend the configuration and objective of the classified balance sheet along with its elements.
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Fiona McLainNov 12, 2024
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