The Balance Sheet Credit Column of the Work Sheet Would

question 101

Multiple Choice

The Balance Sheet credit column of the work sheet would include which of the following account(s) ?

• A) assets, drawing
• B) expenses
• C) accumulated depreciation, liabilities, capital
• D) revenue

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Definitions:

Discarded

Refers to items or materials that have been thrown away or disposed of because they are no longer useful or required.

Accumulated Depreciation

The total amount of an asset's cost that has been allocated as depreciation expense since the asset was put into use, representing how much of the asset's value has been used up.

Item's Cost

The purchase price or production cost of an item, including expenses directly attributable to its acquisition or manufacture.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for a fixed asset over its useful life.