Business, 22.04.2020 03:02 jaylaa04

For the current year, Stone Company records $10,000 of depreciation on a piece of equipment. Which of the following statements is correct?

The equipment has gone down in market value by $10,000 during the year.
By recording depreciation, the company is matching the cost of using the equipment with the revenues the equipment generated.
The company is setting aside $10,000 of funds to be used to replace the equipment at the end of its useful life.
The company is following the lower of cost or market rule.

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For the current year, Stone Company records $10,000 of depreciation on a piece of equipment. Which o...

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