In the context of balance sheets, assets such as machinery, building, and equipment have a limited useful life, so accountants subtract _____ from the original value of these assets, to reflect the fact that these assets are being used up over time.
A) deferred income
B) bequest value
C) accumulated depreciation
D) laid-down cost

Question

Quizplus · Accepted Answer

Accumulated depreciation is subtracted from the original value of assets like machinery, building, and equipment to account for their usage and wear over time.

In the Context of Balance Sheets, Assets Such as Machinery