Which of the following statements are true regarding depreciation? (Check all that apply.) Check all that apply. Depreciation is the process of allocating the cost of an asset to the period the asset benefits. Depreciation is recorded through an adjusting entry. Depreciation is the original cost of an asset minus any residual value and this amount is expensed over its useful life. Depreciation always measures the "decline in value". Depreciation is recognized at the end of an accounting period. Depreciation is recognized on the day a plant asset is purchased. Read about this Do you know the answer? I know it Think so Unsure No idea