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 flow (+ means increase, - decrease, and NA not affected). 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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