Although depreciation expense and the carrying amount of property, plant and equipment may be different in one or more periods because of the choice of depreciation methods, in total, over the life of the assets, there is no difference. This is called
A) difference in assumptions.
B) permanent difference.
C) timing difference.
D) irrelevant differences.

Question

Quizplus · Accepted Answer

This is known as a timing difference. The total amount of depreciation over the life of an asset will be the same regardless of the depreciation method chosen; however, the amount of depreciation expense recognized in any given period may vary depending on the method used. This creates a timing difference in the recognition of depreciation expense.

Although Depreciation Expense and the Carrying Amount of Property, Plant