Fixed assets that are depreciated are sometimes called:
A)Accounts Payable.
B)current assets.
C)long-term assets.
D)long-term liabilities.

Question

Quizplus · Accepted Answer

Fixed assets that are depreciated are typically long-term assets, as they have a useful life of more than one year and are expected to provide economic benefits to the company over a longer period of time. Depreciation is the process of allocating the cost of the fixed asset over its useful life, reflecting its gradual loss of value over time. Accounts payable, current assets, and long-term liabilities do not necessarily have anything to do with fixed assets that are depreciated.

Fixed Assets That Are Depreciated Are Sometimes Called