is accumulated depreciation a liability

Is accumulated depreciation a liability? No, accumulated depreciation is not a liability, but a contra asset account. It represents the total depreciation expense recorded over time on a company's fixed assets, reducing their book value. While liabilities show what a company owes, accumulated depreciation reflects the decline in asset value due to wear and tear or aging. Understanding the difference between accumulated depreciation and liabilities is key for accurate financial reporting and asset management.