The Entry to Record Depreciation Includes a Debit to the ________

question 48

Multiple Choice

The entry to record depreciation includes a debit to the ________.

• A)Equipment account
• B)Cash account
• C)Accumulated Depreciation account
• D)Depreciation Expense account

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Definitions:

Principal Investment

The original amount of money invested or loaned, on which basis interest and returns are calculated.

GIC

Stands for Guaranteed Investment Certificate, a secure investment that promises to return your principal plus interest.

Investment Savings

Funds set aside in financial instruments or accounts with the goal of generating income or profit over time.

Simple Interest

Interest earned only on the original principal amount, without compounding.