Depreciation expense is recognized over time and systematically allocated over the periods of use of the related asset. When depreciation expense is recognized, what related balance sheet line item is also impacted?
A) Equipment
B) Machinery
C) Accumulated Depreciation
D) Supplies

Question

Quizplus · Accepted Answer

Accumulated Depreciation is the balance sheet line item that is impacted when depreciation expense is recognized, as it represents the total depreciation taken on an asset since it was acquired.

Depreciation Expense Is Recognized Over Time and Systematically Allocated Over