Total assets on the balance sheet include
A) current assets + fixed assets + depreciation.
B) current assets + fixed assets -depreciation.
C) current assets - fixed assets + depreciation.
D) current assets - fixed assets -depreciation.
E) none of the above.

Question

Quizplus · Accepted Answer

Total assets on a balance sheet are calculated by adding current assets to fixed assets (also known as non-current assets) and then subtracting depreciation. Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is subtracted from the fixed assets to reflect the asset's current value.

Total Assets on the Balance Sheet Include