Gestion 33 What type of account is the allowance for doubtful accounts? St yet mswered Bints out of DO Select one: O Contra-asset Flag Jestion O Asset O Expense O Liability O Revenue estion 34 Which of the following are true? Check all that are true. et yet swered aints out of Flag Jestion Select one or more: Land is never depreciated Each time depreciation expense is recorded, there is a corresponding reduction in cash Depreciating long-term fixed assets reduces total assets The book value of long-term fixed assets is the amount the asset could be sold for Accumulated depreciation is reported on the income statement Expenditures to maintain the operating efficiency and expected productive life of the unit are expensed in the period incurred