Question 31 What is the book value of a fixed asset? A The asset fair value minus depreciation expense. OB. The asset fair value plus depreciation expense. c. The cost of the asset plus accumulated depreciation. D. The cost of the asset minus accumulated depreciation. Question 32 Which statement is correct about the Accumulated Depreciation account: O A It is a contra asset account and its normal balance is a debit. B. It is a contra asset account with a credit balance that is paired with an asset account and it holds the sum of all depreciation recorded to date on a plant asset. c It is an asset account that is used to keep track of the book value of property, plant and equipment. D. It is an asset account and its normal balance is a credit. UULUUIONISG. Question 33 Which of the following is a temporary account? O A. Insurance Expense B. Accounts Payable c. Prepaid Insurance d. Accrued Salaries E Accumulated Depreciation