Which of the Following Statements Is Not Correct

Multiple Choice

Which of the following statements is not correct?

A) Contract in progress can legitimately represent large amounts.
B) Contract in progress measures the amount of resources consumed in realizing all or part of a long-term contract but for which no invoicing has been issued to the customer.
C) As soon as an invoice is issued,all corresponding resources are carried,as depreciation expense,to the income statement.
D) If invoicing on contract takes place,for example,every four months,up to the cost of four months of production may be listed under contract in progress.