Question: Which statement is FALSE? Select one: a. Depreciation is caused by the physical wear and tear of a plant asset. b. Depreciation is caused by

Which statement is FALSE? Select one: a. Depreciation is caused by the physical wear and tear of a plant asset. b. Depreciation is caused by obsolescence of a plant asset. c. Depreciation is not based on changes in the market value of a plant asset. d. Accumulated depreciation is a cash fund to be used to replace a plant asset when it wears out.

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