Accumulated depreciation on a liability is:
A)the amount of the liability already repaid.
B)the amount received in interest from investing due to the delaying of payments to outside entities.
C)the reduced value of a debt due to the passing of time.
D)liabilities cannot be depreciated.

Question

Quizplus · Accepted Answer

Liabilities cannot be depreciated because depreciation is a term used for the reduction in the value of tangible assets over time. Liabilities are obligations that a company owes to others and do not decrease in value over time.

Accumulated Depreciation on a Liability Is