Regarding Depreciation

Multiple Choice

Regarding depreciation,

A) External auditors select the method believed to be most appropriate and consistent with other companies in the same industry.
B) The income statement is impacted by depreciation through the accumulated depreciation account, and the statement of financial position is impacted by depreciation expense.
C) Once a company chooses a depreciation method, it should apply the same method consistently over the entire useful life of the asset.
D) All of the choices are correct regarding depreciation.