Which of the following accounts would most likely be depreciated?
A) Equipment
B) Office Supplies
C) Investments
D) Prepaid Rent Expense

Question

Quizplus · Accepted Answer

Equipment is a tangible asset with a useful life of more than one year, making it subject to depreciation to allocate its cost over its useful life. Office supplies, investments, and prepaid rent expense are not depreciated because they either do not have a long-term useful life, are not tangible assets, or are expenses prepaid for a future period.

Which of the Following Accounts Would Most Likely Be Depreciated