Question: Question 1 (1 point) ~/ Saved On the balance sheet, accumulated depreciation is: subtracted from property and equipment. 0 added to total liabilities. O subtracted

Question 1 (1 point) ~/ Saved On the balance sheet, accumulated depreciation is: subtracted from property and equipment. 0 added to total liabilities. O subtracted from total liabilities. 0 added to property and equipment. Question 2 (1 point) J Saved If certain assets are partially used up during the accounting period, then: @ an asset account is decreased or eliminated and an expense is recorded. 0 nothing is recorded on the financial statements until they are completely used up. O a liability account is decreased or eliminated and an expense is recorded. 0 nothing is recorded on the financial statements until they are replaced or replenished. Question 3 (1 point) ~/ Saved Which of the following accounts would normally be classified as a current liability? @ Dividends declared. O Wages expense. 0 Deferred revenue. 0 A bank loan which matures (is due and must be repaid) in 5 years

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