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    At the balance sheet date, the balance on the accumulated provision for depreciation account is:
    Question

    At the balance sheet date, the balance on the accumulated provision for depreciation account is:

    A.

    Transferred to Profit and Loss Account

    B.

    Simply deducted from the asset in the Balance Sheet

    C.

    Transferred to the Asset Account

    D.

    Transferred to Depreciation Account

    Correct option is B


    The accumulated depreciation is deducted from the asset's value in the balance sheet to reflect its net book value.

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