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Alera Dickerson
on Nov 15, 2024

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When the adjustment for depreciation is made:

A) total assets decrease.
B) total expenses decrease.
C) total liabilities increase.
D) total revenue decreases.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.

Total Assets

The sum of all resources owned by a company, valued in monetary terms, including both current and non-current assets.

Total Liabilities

The combined amount of all debts and obligations owed by a business, including loans, accounts payable, and other financial liabilities.

  • Acquire knowledge about the influence of adjustments on financial documentation.
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JT
Jazmine TaraeNov 16, 2024
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