Which of the following is NOT characteristic of the accumulated depreciation account?
A) Accumulated depreciation represents cash reserved for asset replacement.
B) Accumulated depreciation is a contra-asset account.
C) Accumulated depreciation may be disclosed in the notes to the financial statements.
D) All of these are characteristic of the accumulated depreciation account.
Correct Answer:
Verified
Q22: All amounts paid to get an asset
Q23: Salvage value has a similar meaning as
A)residual
Q24: Land improvements include
A)fences.
B)trees and shrubs.
C)outdoor lighting.
D)All of
Q25: Depreciable cost equals
A)cost less accumulated depreciation.
B)book value
Q27: Which of the following is an example
Q28: Which method of depreciation considers residual value
Q29: The removal of an old building to
Q30: Which of the following expenditures would NOT
Q31: If a capital expenditure is treated as
Q36: If a revenue expenditure is treated as
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