Accumulated Depreciation appears on the
A) balance sheet in the current assets section
B) balance sheet in the property, plant, and equipment section
C) balance sheet in the long-term liabilities section
D) income statement as an operating expense

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra asset account and therefore appears on the balance sheet in the property, plant, and equipment section. It is deducted from the original cost of the asset to determine the net value of the property, plant, and equipment.

Accumulated Depreciation Appears on the