The Accumulated Depreciation Account Is ________

question 112

Multiple Choice

The Accumulated Depreciation account is ________.

• A)a record of the sum of all the depreciation expense recorded
• B)the price quoted to the buyer of a used asset
• C)an expense account
• D)the expense account used to expense the cost of an asset

---

Definitions:

Contribution Margin

The amount remaining from sales revenue after all variable expenses have been deducted, indicating how much contribution towards covering fixed costs and generating profit.

Variable Costs

Expenses that vary directly with the level of production or sales volume.

Selling Price

The price at which a product or service is offered for sale to consumers.

Gross Margin

The difference between sales revenue and the cost of goods sold, indicating the profitability of a company's core activities.