Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 25 - No. 37)
What is the effect of recording the depreciation expense?
Increases assets and equity.
Decreases assets and equity.
Increases assets and liabilities.
Decreases assets and liabilities.
Explanation
Depreciation decreases net income, which decreases equity, and reduces the carrying value of assets.
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