the first year's depreciation using the sm-of-the-year's method?

[Roxyr]

Business English Lesson, Advanced Level

ESL/EFL Test #152 "Income Statements", question 1

The statement of income and expenses reports the company's income and expenses for the time period: it is also called a .........-and-loss statement.

(a) earnings
(b) gain
(c) profit
(d) win

Business English Lesson, Advanced Level

ESL/EFL Test #152 "Income Statements", answer 1

The statement of income and expenses reports the company's income and expenses for the time period: it is also called a profit-and-loss statement.

Correct answer: (c) profit
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how do i find depreciation and the first year's depreciation using the sm-of-the-year's method?

Roxyr

[Gheon]

The other possible variants of profit-and-loss statement with the same exact meaning are:

profit-and-loss account
gain-and-loss account
income statement
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