E$9\mathrm{.}4($LO $2),$ C Alysha Monet has prepared the following list of statements about depreciation.

$1.$ Depreciation is a process of asset valuation, not cost allocation.

$2.$ Depreciation provides for the proper recording of expenses $($efforts$)$ with revenues $($results$).$

$3.$ The book value of a plant asset should approximate its fair value.