Which of the following is a true statement about the nature of Equipment,account?
A) While equipment is an asset,its use (depreciation) is an expense.
B) While equipment is an asset,its use (depreciation) is a liability.
C) While equipment is an asset,its use (depreciation) affects contributed capital.
D) Equipment and its use (depreciation) are both liabilities.
Correct Answer:
Verified
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