Assuming there are no impairment losses, the balance in the Accumulated Depreciation account represents the
A) cash fund to be used to replace assets.
B) amount to be deducted from the cost of the asset to arrive at its fair value.
C) amount charged to depreciation expense in the current period.
D) amount charged to depreciation expense since the acquisition of the asset.

Question

Quizplus · Accepted Answer

The Accumulated Depreciation account represents the total amount of depreciation expense that has been recorded against an asset since its acquisition.

Assuming There Are No Impairment Losses, the Balance in the Accumulated