Question: Depreciation is a process by which a. the decline in market value of plant and equipment is determined and recorded. b. the cost of plant

Depreciation is a process by which

a. the decline in market value of plant and equipment is determined and recorded.
b. the cost of plant and equipment is allocated to expense over the time periods which benefit from the use of the asset.
c. replacement funds are accumulated for plant and equipment.
d. the difference between current market value and historical cost of plant and equipment.

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