Depreciation Expense Decreases Both Assets and Stockholders' Equity

question 169

True/False

Depreciation expense decreases both assets and stockholders' equity.

---

Definitions:

Supremacy Clause

A clause in the United States Constitution stating that federal law takes precedence over state laws and constitutions when they conflict.

National Law

The legal rules that apply across an entire nation, forming the country's legal system as distinguished from regional or local laws.

Fundamental Law

A term that generally refers to laws or legal principles that are foundational or essential to the governing of a society, often embodied in a constitution.

State Legislatures

The legislative bodies in each of the United States, responsible for making state laws.