Which of the following is true regarding depreciation of equipment?

Multiple select question.

Accumulated Depreciation is increased as the equipment is used causing the carrying value to decrease on the balance sheet.

Accumulated Depreciation is decreased as the equipment is used causing the carrying value to increase.

Accumulated Depreciation is a contra$-$account that reports the amount of usefulness used as of the balance sheet date.

Depreciation directly decreases the Equipment account causing the carrying value to decrease.

Depreciation is reported in Accumulated Depreciation which is netted against the related Equipment account on the balance sheet.