The total amount of depreciation expense that has been recorded since the purchase of a plant asset is called
A) book value.
B) accumulated depreciation.
C) salvage value.
D) net realizable value.

Question

Quizplus · Accepted Answer

Accumulated depreciation is the total amount of depreciation expense that has been recorded since the purchase of a plant asset, reflecting the total amount of value the asset has lost over time due to use and wear.

The Total Amount of Depreciation Expense That Has Been Recorded