Which of the following describes the balance in the Accumulated depreciation account?

Depreciation expense written off in an accounting period

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Asset account

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The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.

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None of the above

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Solution

The correct option is C
The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.

The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.

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Which of the following describes the balance in the Accumulated depreciation account?

The correct option is C The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date. The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.

The correct option is C
The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.

The cumulative sum of all depreciation expenses from the date of asset's acquisition to the present date.