The term "accumulated depreciation" as used in accounting is best defined as:
A)The portion of a plant asset recognized as expense since the asset was acquired.
B)Funds (or cash)set aside to replace the asset being depreciated.
C)Earnings retained in the business that will be used to purchase another asset when the present asset is depreciated.
D)An expense of doing business.

Question

Quizplus · Accepted Answer

Accumulated depreciation is the total amount of depreciation expense that has been recognized over the life of a fixed asset. It represents the portion of the asset's cost that has been allocated as an expense since the asset was acquired.

The Term "Accumulated Depreciation" as Used in Accounting Is Best