Which of the following accounts would not be reported in the Property, Plant, and Equipment section of a balance sheet?
A)accumulated depreciation--buildings
B)buildings
C)depreciation expense--buildings
D)land

Question

Quizplus · Accepted Answer

Depreciation expense is not an asset account and would not be reported in the Property, Plant, and Equipment section of a balance sheet. It is reported in the income statement as an expense. Accumulated Depreciation and Buildings are both accounts related to Property, Plant, and Equipment and would be reported in this section. Land is also a separate category of asset and would be reported separately in the balance sheet.

Which of the Following Accounts Would Not Be Reported in the Property