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:

Assess

The act of evaluating or determining the nature, ability, or quality of something.

Methods

Systematic and organized ways of doing something to achieve a goal, often following a specific procedure or set of rules.

Brief Interventions

Short-term counseling or treatment strategies aimed at reducing or stopping risky behavior and promoting healthy lifestyle changes.

Nutrition Interviews

A method of collecting detailed information about an individual's dietary habits, preferences, and nutritional health through a structured conversation.