Depreciation:

A) Measures the decline in market value of an asset.
B) Measures physical deterioration of an asset.
C) Is the process of allocating the cost of a plant asset to expense.
D) Is an outflow of cash from the use of a plant asset.
E) Is applied to land.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the loss of value due to wear and tear, and obsolescence.

Plant Asset

Permanent real assets employed for creating products and offering services, like facilities, mechanical devices, and apparatus.

Market Value

The immediate cost set for assets or services to be exchanged in a market setting.