QUESTION 9 Accumulated depreciation is classified on the balance sheet as a(n)? O owner's equity O contra-asset O liability O contra-expense QUESTION 10 An asset's book value O equals historical cost minus accumulated depreciation O equals historical cost minus residual value O is the expired historical cost of an asset O is the same as residual value QUESTION 11 Carrying value is a component used in the depreciation formula for o the straight-line method O the production method O the declining-balance method O the total recoverable units method