The entry to record depreciation includes a credit to the ________.
A)Depreciation Payable account
B)Cash account
C)Accumulated Depreciation account
D)Depreciation Expense account

Question

Quizplus · Accepted Answer

Depreciation is the process of allocating the cost of a long-term asset to expense over its useful life. The entry to record depreciation includes a debit to Depreciation Expense and a credit to Accumulated Depreciation account. Therefore, option C is the correct choice as it mentions Accumulated Depreciation account as the credit account.

The Entry to Record Depreciation Includes a Credit to the ________