Which of the Following Statements Is Not Correct

question 30

Multiple Choice

Which of the following statements is not correct?

• A) Generally accepted accounting principles require that the original cost of a long-term asset continue to appear in the asset account until the disposition of the asset.
• B) The book value of a long-term asset is reduced each year as depreciation is recorded.
• C) Buildings and trucks are examples of long-term assets.
• D) Salvage value is computed by subtracting the accumulated depreciation from the cost of a long-term asset.

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Definitions:

Mad Cow Disease

A fatal neurological disorder in cattle, caused by prions, which can be transmitted to humans through consumption of affected beef, leading to variant Creutzfeldt-Jakob disease.

Pragmatic Contributions

Practical additions or improvements made to a field or issue that are focused on practicality, effectiveness, and applicability in real-world scenarios.

Fear Appeals

A persuasion technique that involves raising alarm or concern about a potential danger to motivate specific behaviors.

Intentions

Plans or commitments to carry out an action in the future, often reflecting conscious decisions.