Question 12 5 pts The essence of depreciation used in accounting is best reflected by which of the following below? OC. A method of allocating asset cost to an expense account in a manner which closely matches the physical deterioration of the tangible asset involved. O d. An accounting concept that allocates the portion of an asset used up during the year to the contra asset account for the purpose of properly recording the fair market value of tangible assets. b. The process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset. O a. The process of charging the decline in value of an economic resource to income in the period in which the benefit occurred. Question 13 5 pts