Accumulated depreciation is classified as a(n):

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Accumulated depreciation is a contra-asset account because it has a credit balance and reduces the value of the related asset account. It is not an expense account because it represents the portion of the asset's cost that has been depreciated over time. It is not an asset account because it does not represent a resource with economic value, and it is not a liability account because it does not represent a future obligation to pay.

Accumulated Depreciation Is Classified as A(n)