Which statement is false?
A. Depreciation is not a valuation of assets, but a form of cost allocation.
B. SFAS no. 144 requires the impairment test for long-term assets held and used, and the impairment test is a valuation process.
C. The valuation of property, plant, and equipment assets are particularly important in capital-intensive industries.
D. Depreciation is not affected by asset impairment.
