Which of the following accounts is credited for a direct deduction from Equipment in the asset section of a balance sheet?
A) Sunk Depreciation, Equipment
B) Opportunity Cost, Equipment
C) Accrued Cost, Equipment
D) Accumulated Depreciation, Equipment

Question

Quizplus · Accepted Answer

Accumulated Depreciation, Equipment is the account credited for a direct deduction from Equipment in the asset section of a balance sheet, as it represents the total amount of depreciation expense charged to the Equipment asset over its useful life.

Which of the Following Accounts Is Credited for a Direct