Accumulated depreciation

Name: Accumulated depreciation
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

Accumulated depreciation is an asset account with a credit balance that is used to reduce the carrying amount of a fixed asset. The more accumulated depreciation recorded for a fixed asset, the lower its net book value (cost minus accumulated depreciation), which results in a decrease in total assets. Therefore, accumulated depreciation decreases (or reduces) assets.

Accumulated Depreciation