Which of the Following Statements Is LEAST-Likely True

question 6

Multiple Choice

Which of the following statements is LEAST-Likely true?

• A) The terms topcoat and colorcoat refer to the paint applied over the primer-sealer coat.
• B) Compounding is the physical application of paint using an air pressure-powered paint spray gun.
• C) If the refinishing job looks good and the color matches well, the customer will usually be satisfied with all of the other repair work.
• D) Basecoat/clearcoat paint systems use a colorcoat applied over the primer-sealer with a second layer of transparent clearcoat over the colorcoat.

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Definitions:

Land Purchased

The act of buying land, which is considered a fixed asset and is recorded on the balance sheet at cost, without depreciation.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, and goodwill, and provides economic benefits to its owner.

Physical Existence

The actual, tangible presence of items or assets, often verified during inventory or asset audits.

Depreciation Expense

The allocation of the cost of an asset over its useful life, reflecting the usage and wear and tear of the asset.