Which of the Following Statements Is Not Correct

question 29

Multiple Choice

Which of the following statements is not correct?

• A)The book value of a long-term asset is reduced each year as depreciation is recorded.
• B)Buildings and trucks are examples of long-term assets.
• C)Salvage value is computed by subtracting the accumulated depreciation from the cost of a long-term asset.
• D)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.

---

Definitions:

Mental Disorder

A health condition characterized by significant dysfunction in an individual's cognition, emotional regulation, or behavior, usually associated with distress or impaired functioning.

Right from Wrong

The ability to distinguish ethical or moral correctness from incorrectness.

Nature of the Act

This refers to the intrinsic characteristics or the essential features of an action, often discussed in legal, philosophical, or psychological contexts.

Civil Commitment

A legal process through which an individual is ordered by a court to undergo mental health treatment, often due to being a danger to themselves or others.