Multiple Select Question Select all that apply Which of the following statements are true regarding depreciation? (Check all that apply.) Multiple select question. Depreciation is recognized on the day a plant asset is purchased. Depreciation is recognized at the end of an accounting period. Depreciation is the original cost of an asset minus any residual value and this amount is expensed over its useful life. Depreciation is the process of allocating the cost of an asset to the period the asset benefits. Depreciation always measures the "decline in value". Depreciation is recorded through an adjusting entry