Accumulated Depreciation Is Shown in the Liability Section of the Balance

question 110

True/False

Accumulated depreciation is shown in the liability section of the Balance Sheet because its normal balance is a credit.

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Definitions:

Consolidated Financial Statements

Financial statements that aggregate the financial position, results of operations, and cash flows of a parent company and its subsidiaries, presenting them as a single economic entity.

Shareholder's Equity

The residual interest in the assets of a corporation after deducting liabilities, representing the ownership stake of shareholders.

NCI

Non-controlling interest, which represents the portion of a subsidiary not owned by the parent company, showing up in the consolidated financial statement.