Question
Select all that apply Which of the following statements about the Accumulated depreciation account is (are) correct ? (Check all that apply.) Multiple select question.
Select all that apply
Which of the following statements about the Accumulated depreciation account is (are) correct? (Check all that apply.)
Multiple select question.
Accumulated depreciation is subtracted from its plant asset on the balance sheet.
Accumulated depreciation is a contra account.
Accumulated depreciation is added to its plant asset on the income statement.
Accumulated depreciation accumulates the total depreciation taken on an asset since its purchase.
Accumulated depreciation is an expense account.
The Accumulated depreciation account allows the original cost of the asset to remain in the plant asset account.
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