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 that is used to offset the balance of the property, plant, and equipment account. Therefore, it appears as a deduction from the property, plant, and equipment section on the balance sheet.

Accumulated Depreciation Appears on the