Which of the following would result from failure to record depreciation expense for the period?

Question

Quizplus · Accepted Answer

Failure to record depreciation expense for the period would result in net income being overstated. This is because depreciation expense is a non-cash expense that reduces the value of long-term assets over time. If this expense is not recorded, the value of the assets would not be properly reduced, resulting in a higher reported net income.

Which of the Following Would Result from Failure to Record