What Type of Account Is Accumulated Depreciation and What Is

question 67

Essay

What type of account is Accumulated depreciation and what is its normal balance?
A) Revenue and debit
B) Expense and debit
C) Contra asset and credit
D) Liability and credit

• A) Revenue and debit
• B) Expense and debit
• C) Contra asset and credit
• D) Liability and credit

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Definitions:

Polyester Cloth

A type of fabric made from polyester fibers, known for its durability, resistance to stretching and shrinking, and quick drying properties.

Direct Materials

Raw materials that can be directly identified and allocated to the production of specific goods or services.

Total Cost

The complete cost of production, including fixed and variable costs, for manufacturing a product or providing a service.

Direct Labor

Expenses of employees directly involved in the production of goods or services, such as wages for assembly line workers.