Which of the following statements is false:

A		Depreciation expense is closed to the Income Summary at the end of the accounting period.
B		The entry to record depreciation of an asset includes a credit to a contra-account.
C		Accumulated depreciation is closed to the Income Summary at the end of the accounting period.
D		An asset cannot be depreciated beyond its cost less its salvage value.
E		Both A and D are false.