11. Which of the following statements about the Accumulated Depreciation account is false?

A. The Accumulated Depreciation account normally has a credit balance and is therefore classified as a liability.

B. The Accumulated Depreciation account is referred to as a contra-asset account.

C. The use of a separate Accumulated Depreciation account preserves information pertaining to the original cost of the related asset.

D. The use of a separate Accumulated Depreciation account reveals the total amount of depreciation previously recorded by accumulating this information in the separate ledger account titled Accumulated Depreciation.

The false statement about the Accumulated Depreciation account is: OA. The Accumulated Depreciation account normally has a credit balance and is therefore classified as a liability. Contrary to statement OA, Accumulated Depreciation is classified as a contra-asset account that shows the total depreciation expense taken on an asset over time. It is not a liability account but serves to reduce the book value of the related asset.

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