Accumulated depreciation is applied to which balance sheet category?
A) current assets
B) fixed assets
C) current liabilities
D) long-term liabilities

Question

Quizplus · Accepted Answer

Accumulated depreciation is applied to fixed assets on the balance sheet. It represents the total amount of depreciation that has been charged to the assets over their useful lives. This reduces the value of fixed assets and is shown as a contra account to the fixed assets category on the balance sheet.

Accumulated Depreciation Is Applied to Which Balance Sheet Category