Accounting Accumulated depreciation:

a) accounts for ordinary and capital expendatures.

b) is an asset account.

c) is an expense account.

d) represents funds set aside to replace an asset at the end of its useful life.

If you were considering retirement and decided to make annual deposits into an investment account, which time value of money table should you use to help make the related calculations?

a) Present value of $1

b) Future value of an annuity of $1

c) Future value of $1

d) Present value of an annuity of $1

If a company forgot to record depreciation expense of $500 as well as accrued revenues of $200, then its assets would be [understated or overstated] by [0, 200, 300, 500, or 700].