Which of the following statement is true of accumulated depreciation?
A) It is the difference between acquisition costs and residual value.
B) It is the difference between acquisition costs and revalued amount.
C) It is initially derecognised on first time revaluations.
D) It is restated proportionately to the carrying amount and the revalued amount of the asset.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statement is true of accumulated depreciation?
A) It is the difference between acquisition costs and residual value.
B) It is the difference between acquisition costs and revalued amount.
C) It is initially derecognised on first time revaluations.
D) It is restated proportionately to the carrying amount and the revalued amount of the asset.

Which of the Following Statement Is True of Accumulated Depreciation