Question

Depreciation is included on a balance sheet to show that
some accounts are uncollectible:
some assets have been sold
some fixed assets have lost value over time
some expenses have not been paid

Answer 1

Answer:

some fixed assets have lost value over time

Explanation:

Depreciation is the decline in the value of an asset due to usage, corrosion, or wear and time. Some fixed assets, especially plants and machinery, equipment, and motor vehicles, will always depreciate in value as they age. Depreciation spreads the cost of an asset over many years. The depreciation amount is calculated and subtracted from the cost of the assets or book vales at the end of the financial year.