Which of the Following Statements Is Not Correct

question 46

Multiple Choice

Which of the following statements is not correct?

• A)The cost less the salvage value equals the depreciable base of a long-term asset.
• B)Each adjustment for an accrued expense includes a credit to a liability account.
• C)If a firm records prepaid expense items in an expense account when they pay for them, their adjustment at the end of the period to record the unexpired portion would include a debit to an asset account and a credit to an expense account.
• D)Uncollectible Accounts Expense is a contra asset account.

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Definitions:

Tricyclics

A class of antidepressant drugs used primarily for the treatment of major depression and other mood disorders.

Reuptake

A process by which neurotransmitters are reabsorbed by a neuron after being released into the synaptic cleft, influencing neural communication.

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, also implicated in mood regulation.

Serotonin

A neurotransmitter that plays a key role in regulating mood, sleep, appetite, and digestion.