Which Financial Statement Reports the Amount of Accumulated Depreciation

question 76

Multiple Choice

Which financial statement reports the amount of accumulated depreciation?

• A)Income statement
• B)Balance sheet
• C)Statement of cash flows
• D)Statement of stockholder's equity

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Definitions:

Micro-aging Schedule

A detailed plan or method for categorizing accounts receivable based on the age of the invoice, typically used to manage and prioritize collections.

Cash Budget

A financial plan that estimates incoming and outgoing cash flows over a specific period, helping businesses manage liquidity and cash reserves.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profits or losses.

Macro-aging Schedule

A method used in accounting to categorize accounts receivable or payables based on the length of time they have been outstanding.