Accumulated depreciation is a liability. True False
Accumulated depreciation is a liability. True False
Homework Answers
This statement does not make any sense.
Accumulated depreciation is just a total of depreciation expenses charged in the Income statement. It's not a liability as it does not create an obligation on the entity to pay to any third party. It is just shown in the Balance sheet as a deduction from the respective total tangible assets to show the carrying value of the asset at the end of certain period.
So the statement is False
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