Final answer:
The accumulated depreciation account does not represent a cash fund; it is a contra-asset account on the balance sheet that records the depreciation of assets over time.
Step-by-step explanation:
The statement that the accumulated depreciation account represents a cash fund available to replace plant assets is false.
Accumulated depreciation records the total amount of depreciation expense that has been charged against an asset since it was acquired, reflecting the decrease in value of the asset over time. This account is shown in the assets section of a balance sheet that uses a T-account format to list assets on one side and liabilities on the other. The balance in this account does not represent cash; rather, it is a contra-asset account that reduces the gross amount of fixed assets reported on the balance sheet to reflect the wear and tear or usage of the assets over time.