The Accumulated Depreciation account represents a cash fund available to replace plant assets.

Name: The Accumulated Depreciation account represents a cash fund available to replace plant assets.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

The Accumulated Depreciation account does not represent a cash fund available to replace plant assets. It is a contra asset account that shows the total amount of depreciation that has been charged to a plant asset since it was put into service.

The Accumulated Depreciation Account Represents a Cash Fund Available to Replace