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Which of the following statements is incorrect about depreciation? Depreciation expense account
is a permanent account Accumulated depreciation is deducted from Land, Plant and Equipment
in the Balance Sheet Depreciation expense appears in the income statement Depreciation
expense is shown in accounting books in order to achieve accounting's matching principle

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Which of the following statements is incorrect about depreciation- Dep.docx

  • 1. Which of the following statements is incorrect about depreciation? Depreciation expense account is a permanent account Accumulated depreciation is deducted from Land, Plant and Equipment in the Balance Sheet Depreciation expense appears in the income statement Depreciation expense is shown in accounting books in order to achieve accounting's matching principle