For Each of the Following, Identify in Column 1 the Category

question 9

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column } 1 & \text { Column } 2 & \text { Column } 3 & \text { Column } 4 \\\hline \begin{array} { l } \text { Depreciation } \\\text { expense }\end{array} & & & & \\\hline\end{array}$$

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Definitions:

Buffer Stock

An inventory reserve kept on hand to protect against variability in demand or supply.