Which Statement Is Not Correct

question 59

Multiple Choice

Which statement is not correct?

• A) If an asset is scrapped as worthless before it is fully depreciated its original cost represents an expense on disposal.
• B) If an asset is scrapped as worthless before it is fully depreciated its carrying amount represents an expense on disposal.
• C) An amount paid to remove an asset that is scrapped before it is fully depreciated is an addition to the expense recorded on its disposal.
• D) When an asset is scrapped during the year an entry should be made to record depreciation expense for the portion of the year before scrapping.

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Definitions:

Facial Expression

The movement or position of the muscles beneath the skin of the face, serving as a primary means of conveying emotional states and reactions.

Panic

A sudden, overwhelming feeling of fear or anxiety that can result in extreme, often irrational behavior and physiological responses.

Basic Emotions

A set of emotions that are universally recognized and experienced across cultures, often described as including happiness, sadness, fear, disgust, anger, and surprise.

Darwin

Charles Darwin, a 19th-century naturalist known for his contributions to the theory of evolution and the process of natural selection.