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Homework answers / question archive / What does the balance of the Accumulated Depreciation account represent? The decline in value of plant assets The accumulation of funds needed to replace the assets at the end of their useful life The portion of the cost allocated as an expense since the asset was acquired The fair value of the asset that is being depreciated  

What does the balance of the Accumulated Depreciation account represent? The decline in value of plant assets The accumulation of funds needed to replace the assets at the end of their useful life The portion of the cost allocated as an expense since the asset was acquired The fair value of the asset that is being depreciated  

Finance

What does the balance of the Accumulated Depreciation account represent?

    1. The decline in value of plant assets
    2. The accumulation of funds needed to replace the assets at the end of their useful life
    3. The portion of the cost allocated as an expense since the asset was acquired
    4. The fair value of the asset that is being depreciated

 

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Answer:

c . The portion of the cost allocated as an expense since the asset was acquired

Step-by-Step explanation

Accumulated depreciation is the total depreciation for a fixed asset that has been charged to expense since that asset was acquired and made available for use. The accumulated depreciation account is an asset account with a credit balance.