Q378
Total amount of depreciation charged on long term assets is classified as
A.
accumulated depreciation
AnswerB.
depleted depreciation
C.
accumulated appreciation
D.
accumulated appreciation schedule
Answer: Option A
Solution
Answer: Option A
Solution:
Total amount of depreciation charged on long term assets is classified as accumulated depreciation. Accumulated depreciation is the total amount of a plant asset's cost that has been allocated to depreciation expense (or to manufacturing overhead) since the asset was put into service.