What Is the Effect of Recording Depreciation for the Year

question 111

Multiple Choice

What is the effect of recording depreciation for the year?

• A) a decrease in both assets and net income
• B) a decrease in assets but no change in owners' equity
• C) an increase in both assets and net income
• D) a decrease in net income but no change in assets

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Definitions:

Violent Crime

Criminal activities that involve the use of force or threat of force against others.

Property Crime

Crimes involving the theft of property without direct harm to the victim, such as burglary, larceny, theft, motor vehicle theft, and arson.

Code Of Conduct

A set of rules outlining the responsibilities, ethical standards, or norms for behavior within an organization or group.

Loyalty

A strong feeling of support or allegiance to someone or something.