Which of the following is TRUE about depreciation? A. Depreciation expenses reflect the diminishing value of a firm's fixed or long-term assets. B. All else being equal, you'd rather pay more taxes up front and less taxes later, so you'll want to record depreciation expenses as slowly as possible. C. Depreciation expenses have no effect on a firm's taxable income. D. Finance people are reluctant to record depreciation expenses, since the greater the depreciation expenses, the lower the amount of operating cash flow