Byrd Company experienced an accounting event that affected its financial statements as indicated below:
Balance Sheet Income Statement Statement of Cash Flows
Assets = Liabilities + Stockholders’ Equity Revenue Expense = Net Income
A. − = NA + − NA + = − NA
Which of the following accounting events could have caused these effects on Byrd's statements?
Multiple Choice
Amortized patent cost under the straight-line method.
Recognized depreciation expense under the double-declining-balance method.
Recognized depletion expense under the units-of-production method.
All of these answer choices are correct.