question 9\naccumulated depreciation is\na used to show the amount of cost expiration of intangibles\nb the…

question 9\naccumulated depreciation is\na used to show the amount of cost expiration of intangibles\nb the same as depreciation expense\nc a contra asset account\nd used to show the amount of cost expiration of natural resources

question 9\naccumulated depreciation is\na used to show the amount of cost expiration of intangibles\nb the same as depreciation expense\nc a contra asset account\nd used to show the amount of cost expiration of natural resources

Answer

Brief Explanations:

  • Option A: Accumulated Depreciation is for tangible assets (not intangibles). Intangibles use amortization.
  • Option B: Depreciation Expense is an income - statement account (period - specific), while Accumulated Depreciation is a balance - sheet contra - asset (cumulative).
  • Option C: Accumulated Depreciation is a contra - asset account. It reduces the carrying value of the related asset on the balance sheet.
  • Option D: Cost expiration of natural resources is depletion (not Accumulated Depreciation).

Answer:

C. a contra asset account