Total amount of depreciation charged on long term assets is classified as______________?
Correct answer: C. Accumulated depreciation
- A. Accumulated appreciation
- B. Depleted depreciation
- C. Accumulated depreciation
- D. Accumulated appreciation schedule
Explanation
Accumulated depreciation is the total depreciation recorded against a long-term depreciable asset from the date it was placed in service. Appreciation means an increase in value, so it does not describe depreciation.
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