GB 518 Course Great Wisdom / tutorialrank.com GB 518 Course Great Wisdom / tutorialrank.com | Page 13

Income Summary account

Closing account

Balance column account

Contra account

Question 21. Question :
The difference between the cost of an
asset and the accumulated depreciation for that asset is called

Depreciation Expense

Unearned Depreciation

Prepaid Depreciation

Depreciation Value