Asked by Charlease Jordan on Jun 16, 2024

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Accumulated depreciation accounts are liability accounts.

Accumulated Depreciation Accounts

Balance sheet accounts representing the total depreciation of a company's fixed assets over their useful lives.

Liability Accounts

These accounts track what a company owes to others, such as loans, accounts payable, mortgages, and other debts.

  • Comprehend the theory and financial handling of depreciation.
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Rahela SinanagicJun 18, 2024
Final Answer :
False
Explanation :
Accumulated depreciation accounts are not liability accounts, they are contra-asset accounts. Their balance is used to reduce the overall value of the asset on the balance sheet.