Question 14 Which of the following statements is/are FALSE? A. Depreciation represents the loss in market value of an asset over its useful life. B. A rules-based accounting regulatory system, like US GAAP, provides more flexibility and enables more judgement for preparers of financial statements than a principles-based system, like IFRS. C. When treasury shares are resold below their original purchase cost (when using the cost method) we debit share premium (treasury shares) with the difference between the resale value and the original purchase cost. D. It is crucial to understand how a cash generating unit (cgu) is defined, as there is a danger of masking poor performance of a cgu by grouping cgus into larger clusters, so that underperforming units can hide their poor performance. E. The correct accounting treatment of a sales and repurchase agreement is a good illustration of the substance over form principle. In your answer, just provide the appropriate letter(s) from A, B, C, D and E above