Par value is a liability account and is the dollar amount of the total cost of PP&E that has been allocated to depreciation expense

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Par value is a liability account and is the dollar amount of the total cost of PP&E that has been allocated to depreciation expense.       Group of answer choices

True

False

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Answer & Explanation:

False
Explanation: Par value is not a liability account and it is not related to the cost of PP&E or depreciation expense. Par value refers to the nominal or face value assigned to each share of stock when it is issued by a company. It represents the minimum price at which shares can be issued and has no direct relation to the cost or depreciation of assets.