Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 2 - Conceptual Framework for Financial Reporting - Brief Exercises - Page 70: BE2-11c

Answer

(c) Depreciation expense on equipment would not be revealed.

Work Step by Step

Depreciation happens to an asset over time, which is realized through the going concern principle. Thus, without the going concern principle, then depreciation expense would be inappropriate and therefore would not revealed.
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