Accumulated Depreciation Is a Liability Account and Its Normal Account

question 63

True/False

Accumulated Depreciation is a liability account and its normal account balance is a credit.

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Definitions:

Improvisation

The act of creating or performing something spontaneously without prior preparation.

"Yes,and"

A principle stemming from improvisational theater that encourages the acceptance of contributed ideas and building upon them, often used to foster creativity and collaboration.

Entrepreneurial Self-efficacy

The belief in one's capability to organize and execute the courses of action required to manage prospective situations in entrepreneurship.

New Ventures

Refers to the start of new business activities, often associated with entrepreneurship and the creation of startups.