On the balance sheet, the cumulative amount of plant and equipment already expensed is reported in an account called a. Accumulated Amortization b. Accumulated Depreciation c. Amortization Expense d. Depreciation Expense

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mrichardson9971 mrichardson9971

24-05-2022
Business

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On the balance sheet, the cumulative amount of plant and equipment already expensed is reported in an account called a. Accumulated Amortization b. Accumulated Depreciation c. Amortization Expense d. Depreciation Expense

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gauravsingh23VT gauravsingh23VT · Answer 1 · 2022-06-02T11:59:07+02:00

Accumulated Depreciation is called when, on the balance sheet, the cumulative amount of plant and equipment already expensed is reported in an account.

What is Accumulated Depreciation?

Accumulated Depreciation is the total depreciation on the assets of the company. Accumulated depreciation, on the other hand, is the amounts that has been depreciated for a particular period.

Depreciation is an accounting term that refers to the decline in the cost of an item over the course of its useful life.

Thus, option B is correct.

For more information about Accumulated Depreciation, click here:

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