Which statement about depreciation is false?

a. A major objective of depreciation accounting is to allocate the cost of using an asset against the revenues it helps to generate.

b. Depreciation should not be recorded in years in which the market value of the asset has increased.

c. Obsolescence as well as physical wear and tear should be considered when determining the period over which an asset should be depreciated.

d. Depreciation is a process of allocating the cost of an asset to expense over its useful life.

Select the best choice from among the possible answers given.