Concerning depreciation, which of the following statements is least correct:
A: Depreciation is a loss in value irrespective of cause;
B: The difference between the value of improvements and their cost of replacement as of the appraisal date is defined as depreciation;
C: Depreciation can be computed for the future or from the past;
D: Depreciation results from influences inherent within the property itself and cannot result from factors extraneous to the property.
Answer: D: Depreciation results from influences inherent within the property itself and cannot result from factors extraneous to the property.
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