An accumulated depreciation account
A) is a contra-liability account.
B) increases on the debit side.
C) is offset against total assets on the statement of financial position.
D) has a normal credit balance.

Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra-asset account and not a liability account. It increases on the credit side and has a normal credit balance. Therefore, choice D is the correct answer.

An Accumulated Depreciation Account