As the balance in the Accumulated Depreciation increases, total assets because Accumulated Depreciation is a(n) account.

Question

As the balance in the Accumulated Depreciation increases, total assets because Accumulated Depreciation is a(n) account.
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Solution 1

As the balance in the Accumulated Depreciation increases, total assets decrease because Accumulated Depreciation is a contra asset account.

Here's the step by step explanation:

  1. Accumulated Depreciation is an account that records the total amount of depreciation expense that has been charged to Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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