Which of the following statements is true? Select any that apply.

Equipment must be fully depreciated before it can be removed from the books.

Depreciation measures the decline in market value of an asset.

Accumulated depreciation represents funds set aside to buy new assets when the assets currently owned must be replaced.

The total depreciation expense over an assets service life will be identical across all methods of depreciation if the asset is not disposed of before the end of the expected service life.

Which of the following statements is true? Select any that apply. Equipment must be fully depreciated before it can be removed from the books. Depreciation measures the decline in market value of an asset. Accumulated depreciation represents funds set aside to buy new assets when the assets currently owned must be replaced. The total depreciation expense over an asset's service life will be identical across all methods of depreciation if the asset is not disposed of before the end of the expected service life