Which of the following is TRUE of plant asset accounts and their related accumulated depreciation accounts?
A) The allocation of a plant asset's cost to expense is called depreciation.
B) Accounting for plant assets is the same as accounting for a prepaid expense.
C) Accumulated depreciation is a contra-asset account which has a normal credit balance.
D) All of the above are true.

Question

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The Answer of Which of the following is TRUE of plant asset accounts and their related accumulated depreciation accounts?
A) The allocation of a plant asset's cost to expense is called depreciation.
B) Accounting for plant assets is the same as accounting for a prepaid expense.
C) Accumulated depreciation is a contra-asset account which has a normal credit balance.
D) All of the above are true.

Which of the Following Is TRUE of Plant Asset Accounts