What type of account is Accumulated depreciation and what is its normal balance?
A)Liability and credit
B)Expense and debit
C)Contra asset and credit
D)Revenue and debit

Name: What type of account is Accumulated depreciation and what is its normal balance? A)Liability and credit B)Expense and debit C)Contra asset and credit D)Revenue and debit
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Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra asset account, which means it is used to offset an asset account, and it has a normal credit balance.

What Type of Account Is Accumulated Depreciation and What Is