Which of the following statements about depreciation and depletion is correct?

A. Depreciation applies to natural resources while depletion applies to plant and equipment

B. Many methods are used in computing depreciation but only one method is used for computing depletion

C. Depreciation refers to the physical exhaustion or consumptionof the asset while depletion refers to the wear, tear, and obsolescence of the asset

D. The cost of the asset is the starting point from which compution of the amount of the periodic charge is made to operations from depreciation, but the fair value is reassessed each year as the starting point for the periodic charge for depletion.