Accumulated Depreciation
A) is used to show the amount of cost expiration of intangibles
B) is the same as Depreciation Expense
C) is a contra asset account
D) is used to show the amount of cost expiration of natural resources

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra asset account used to show the total amount of depreciation expense recognized over time for a particular asset. It offsets the original cost of the asset and reduces its overall book value on the balance sheet. It is not used for intangible or natural resource assets.