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Sagot :
Final answer:
The Accumulated Depreciation account is not classified as a liability but as a contra-asset account that reduces the book value of the related asset.
Explanation:
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.
Learn more about Accumulated Depreciation account here:
https://brainly.com/question/28139636
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