Depreciation is a process by which:
A) replacement funds are accumulated for plant and equipment.
B) the decline in market value of plant and equipment is determined and recorded.
C) the cost of plant and equipment is allocated to expense over its useful life.
D) the difference between current market value and historical cost of plant and equipment is recorded.
C
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One of the innovations introduced by Bretton Woods was the creation of the Special Drawing Right or SDR. The SDR is an international reserve asset created by the:
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