Chubb Company paid cash to purchase equipment on January 1, Year 1. Select the answer that shows how the recognition of depreciation expense in Year 2 would affect assets, liabilities, equity, net income, and cash flows. AssetsLiabilitiesEquityNet IncomeCash flowA.+NA+?NAB.??NA++C.?NA???D.?NA??NA
A. option A
B. option B
C. option C
D. option D
Answer: D
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