Which One of the Following Statements Is Not True

Multiple Choice

Which one of the following statements is not true?

A) There are three sources of income in the statement of profit or loss.
B) Depreciation is a deduction from the cost of non-current assets charged as an expense in the statement of profit or loss in each accounting period in which the asset is used within the business to generate income and cash.
C) The income statement records large irregular costs as exceptional expenditure.
D) Cost + depreciation = carrying amount.