Accumulated depreciation is a(n):
A) contra asset.
B) contingent asset.
C) revenue expenditure.
D) accrued expense.

Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra asset account that represents the total amount of depreciation expense that has been recorded on an asset since its acquisition. As a contra asset, it is subtracted from the cost of the asset on the balance sheet to arrive at its net book value.

Accumulated Depreciation Is A(n)