Moving to another question will save this response. Question 44 Which of the following statements is true? O Depreciation should be recorded on the date an asset is purchased O Depreciation is the process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use O Depreciation measures the actual decline in market value of an asset O It is not necessary to report both the cost and the accumulated depreciation of plant assets in the financial statements Moving to another question will save this response 5 hp Question 44 of 51 2 points Save Am Question 44 of 51