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

Question

Quizplus · Accepted Answer

The disclosure of balances of plant assets and accumulated depreciation by major classes is required by generally accepted accounting principles (GAAP) and should be included in the balance sheet or notes to the financial statements.

The Balances of the Major Classes of Plant Assets and Accumulated