If a business has several types of long-term assets such as equipment, buildings, and trucks, a. all
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Question:
If a business has several types of long-term assets such as equipment, buildings, and trucks,
a. all the long-term asset accounts will be recorded in one general ledger account.
b. there should be only one accumulated depreciation account.
c. there should be separate accumulated depreciation accounts for each type of asset.
d. there won't be a need for an accumulated depreciation account.
Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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