A business depreciates its real estate in an accounting period. What impact does this have on the Income Statement and on the Balance Sheet?
A) This decreases the balance sheet total & decreases profit for the period on the income statement
B) This decreases the balance sheet total but does not impact the income statement for the period
C) This decreases profit for the period on the income statement, but does not impact the balance sheet total
Correct Answer:
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