The balances of the major classes of plant assets and accumulated depreciation by major classes should be disclosed in the balance sheet or notes.

Question

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This is required by generally accepted accounting principles (GAAP) to provide information on the composition and age of a company's plant assets, as well as the amount of depreciation accumulated over time. This information is useful for investors and creditors in evaluating a company's capital investments and potential for future growth.

The Balances of the Major Classes of Plant Assets and Accumulated