4. Which of the following statements is true regarding depreciation? (a) Depreciation is a valuation concept; that is, we allocate costs to reflect the actual change in the value of the asset. (b) Depreciation allocates the cost of a long-lived asset to the accounting periods over which It is used. (C) Depreciation expense will typically will be shown on the statement of financial position. (d) Accumulated depreciation has a normal debit balance