Accumulated depreciation and depreciation expense are classified, respectively, as
Accumulated depreciation and depreciation expense are classified, respectively, as a. asset, contra liability b. expense, contra asset c. contra asset, expense d. revenue, asset C. contra asset, expense Explanation: The depreciation is an expenditure indicating a decline in the value of the fixed assets due to wear and tear, obsolescence, use, time period, etc. It’s […]
Accumulated depreciation and depreciation expense are classified, respectively, as Read More »