If a Business Has Several Types of Long-Lived Assets Such

Multiple Choice

If a business has several types of long-lived assets such as equipment, buildings, and trucks,

A) there should be only one accumulated depreciation account.
B) there should be separate accumulated depreciation accounts for each type of long-lived asset.
C) all the long-lived asset accounts will be recorded in one general ledger account.
D) there is no need for an accumulated depreciation account.