Which of the Following Statements Regarding Tangible Long-Lived Assets Is

Multiple Choice

Which of the following statements regarding tangible long-lived assets is not correct?

A) Depreciation and maintenance are expenses associated with the use of tangible long-lived assets.
B) Assuming no additions,replacements,or extraordinary repairs,the carrying value of a long-lived asset is never more than its original cost.
C) The cost of a long-lived asset minus the accumulated depreciation is called the carrying value of the asset.
D) All long-lived assets are depreciated as they are used in the business.