MCQ All the following statements are true except: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Ordinary repairs and maintenance a of operational assets should be expensed. b If depreciation expense on an asset is calculated omitting the asset's residual value, depreciation expense for the following periods will be lower than it should have been. An item of property, plant, and equipment is considered to be impaired if its carrying amount exceeds its recoverable amount. d A change in the estimated residual value of property, plant, and equipment only affects future years