Which of the Following Statements Is Incorrect

question 51

Multiple Choice

Which of the following statements is incorrect?

• A) If an asset is scrapped as worthless before it is fully depreciated its carrying amount represents an expense on disposal.
• B) 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.
• C) 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.
• D) If an asset is scrapped as worthless before it is fully depreciated its original cost represents an expense on disposal.

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Definitions:

RLC Series Circuit

A circuit comprising resistors (R), inductors (L), and capacitors (C) connected in a single path, affecting the impedance and frequency response.

Ratio

A mathematical relationship showing the relative sizes of two or more values, often expressed as a fraction or quotient.

Power Factor

The ratio of real power flowing to the load to the apparent power in the circuit, indicating the efficiency of the power usage.

RLC Series Circuit

An electric circuit consisting of a resistor (R), inductor (L), and capacitor (C) connected in series, creating a circuit with resonant properties.