For each account listed in below, identify which reporting section (a through d) each would appear on a company's financial statements.You may use each letter more than once or not at all.
-Depreciation expense
A) Balance sheet-property, plant, and equipment
B) Balance sheet-intangible assets
C) Balance sheet-other
D) Income statement

Question

Quizplus · Accepted Answer

Depreciation expense is recorded on the income statement as it reflects the cost allocated for the use of fixed assets over a specific period, impacting the company's net income.

For Each Account Listed in Below, Identify Which Reporting Section