Which of the following statements is TRUE?
A) Depreciation expense and accumulated depreciation are both reported on the income statement.
B) Depreciation expense and accumulated depreciation are both reported on the balance sheet.
C) Depreciation expense is reported on the income statement and accumulated depreciation is reported on the balance sheet.
D) Depreciation expense is reported on the balance sheet and accumulated depreciation is reported on the income statement.
Correct Answer:
Verified
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