Which of the following statements is FALSE? An asset's cost less its salvage value is referred to as the depreciable base. 00 0 The accounting concept of depreciation reflects the decline in value associated with a plant asset. Replacing a black and white monitor with a color monitor for a computer is an example of supersession. Physical factors such as wear and tear bet the outside limit for the service life of an asset.

Which of the following statements is FALSE? An asset's cost less its salvage value is referred to as the depreciable base. The accounting concept of depreciation reflects the decline in value associated with a plant asset. Replacing a black and white monitor with a color monitor for a computer is an example of supersession. Physical factors such as wear and tear [et the outside limit for the service life of an asset