Accumulated Depreciation Is Normally Associated with Which Asset on the Balance

question 3

Multiple Choice

Accumulated depreciation is normally associated with which asset on the Balance Sheet?

• A)inventory
• B)accounts receivable
• C)intangible assets
• D)fixed assets

---

Definitions:

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed.

Long-Term Liabilities

Financial obligations of a business that are due for repayment in more than one year, such as bonds payable or long-term loans.

Gross Pay

The total amount of money an employee earns before any deductions are made.

Deductions

Amounts that are subtracted from gross income or revenue, leading to a lower taxable income or tax liability.