Which of the Following Statements Concerning Accounting for Depreciation and Depletion

question 4

Multiple Choice

Which of the following statements concerning accounting for depreciation and depletion in an estate is not true?

• A) For any depreciation taken, an equal amount of income is transferred to principal.
• B) Depreciation is a common charge against income.
• C) Depletion is generally taken for wasting assets.
• D) All of the above.

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