Accumulated Depreciation
A)is the same as Depreciation Expense
B)is used to show the amount of cost expiration of intangibles
C)is a contra asset account
D)is used to show the amount of cost expiration of natural resources

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra asset account that shows the total amount of depreciation expense that has been recognized since the asset was acquired. It is subtracted from the corresponding asset account on the balance sheet to give the net book value of the asset.