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Accumulated depreciation is an: A. contra revenue account. B. liability account. C. contra asset account. D. expense account.

Question

Accumulated depreciation is an: A. contra revenue account. B. liability account. C. contra asset account. D. expense account.
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Solution 1

The answer is C. contra asset account.

Here's the step-by-step explanation:

A. A contra revenue account is an account that is deducted from a revenue account. Accumulated depreciation is not deducted from revenue, so it is not a contra revenue account.

B. A liability account represents an obligat Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

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