Which of the Following Statements About Accumulated Depreciation Is True

question 46

Multiple Choice

Which of the following statements about accumulated depreciation is true?

• A) Accumulated depreciation is the amount of depreciation recognised at the date of disposal of the asset.
• B) Cost less accumulated depreciation gives net book value.
• C) Accumulated depreciation represents the depreciation charge for the current period.
• D) Accumulated depreciation is ignored when an asset is sold.

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Definitions:

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The structured method by which a government or authority levies taxes on individuals, businesses, and transactions.

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The economic system of the United States, characterized by a mixture of private and public enterprise and known for being one of the world’s largest and most complex economies.

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The financial gain received by an individual or entity, typically through wages, profits, rents, or investments.