Question: Depreciation is a process by which: A. Replacement funds are accumulated for plant and equipment B. The decline in market value of plant and equipment

Depreciation is a process by which:
  • A. Replacement funds are accumulated for plant and equipment
  • B. The decline in market value of plant and equipment is determined and recorded
  • C. The difference between current market value and the historical cost of plant and equipment
  • D. The cost of plant and equipment is allocated to expense over the time periods which benefit the company from use of the asset

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