Which Statement Is Correct

question 87

Multiple Choice

Which statement is correct?

• A) Accumulated Depreciation should always have a debit balance in the adjusted trial balance.
• B) Accumulated Depreciation is added to the long-term liabilities on the balance sheet.
• C) Accumulated Depreciation, Equipment represents the total cost of equipment that has expired up to the date of the balance sheet.
• D) Accumulated Depreciation is used to reveal the value of the related asset on the date of the balance sheet.

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Definitions:

Limiting Reagent

The reactant in a chemical reaction that is completely consumed first, limiting the amount of product formed.

Hydrogen

A chemical element with the symbol H and atomic number 1, it is the lightest and most abundant chemical substance in the universe.

Oxygen

A chemical element (symbol O) with atomic number 8, essential for most forms of life and crucial in combustion processes.

Limiting Reactant

The reactant in a chemical reaction that is completely consumed first, limiting the amount of product that can be formed.