The Accumulated Depreciation Account

question 64

Multiple Choice

The Accumulated Depreciation account:

• A)is another term for depreciation expense.
• B)represents the original cost of a plant asset.
• C)is a contra asset account.
• D)has a normal balance which is the same as its companion account.

---

Definitions:

World Price

The price of a good that prevails in the global market for internationally traded goods.

Trade Restrictions

Measures imposed by governments to limit international trade for various reasons, including protecting domestic industries.

Domestic Supply

The total amount of a product or service that is available to consumers in a domestic market.

Specific Tariff

Is a fixed fee imposed on imported goods, based on a specific amount per unit (such as per ton, kilogram, or item), as opposed to the value of the goods.