How is Accumulated Depletion disclosed in the financial statements?
A) Contra-asset account
B) Expense account
C) Contra-expense account
D) Revenue account

Name: How is Accumulated Depletion disclosed in the financial statements? A) Contra-asset account B) Expense account C) Contra-expense account D) Revenue account
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Question

Quizplus · Accepted Answer

Accumulated depletion is a contra-asset account that is reported on the balance sheet as a reduction of the natural resource's cost.

How Is Accumulated Depletion Disclosed in the Financial Statements