Which of the Following Statements Regarding Tangible Long-Lived Assets Is

question 68

Multiple Choice

Which of the following statements regarding tangible long-lived assets is not correct?

• A)Depreciation and maintenance are expenses associated with the use of tangible long-lived assets.
• B)Assuming no additions,replacements,or extraordinary repairs,the carrying value of a long-lived asset is never more than its original cost.
• C)The cost of a long-lived asset minus the accumulated depreciation is called the carrying value of the asset.
• D)All long-lived assets are depreciated as they are used in the business.

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Definitions:

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