Accumulated Depreciation on a corporation's balance sheet is usually a different amount than the same corporation's Depreciation Expense on its Income Statement for the same period because:

Group of answer choices

The balance sheet shows the current market value of all assets.

Accumulated depreciation is used for assets the corporation is no longer owns.

The balance sheet shows the cumulative amount of depreciation that has been on the income statement for current and past periods relating to the balance sheet's fixed assets.