Economy, asked by mouazzam300, 3 months ago

Describe accumulated depreciation. Is it a positive or a negative asset

Answers

Answered by yamin1971mya

2

Answer:

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Explanation:

In other words, accumulated depreciation is a contra-asset account, meaning it offsets the value of the asset that it is depreciating. As a result, accumulated depreciation is a negative balance reported on the balance sheet under the long-term assets section.

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