ve Quiz i Saved Help Which of the following statements is not correct? Multiple Choice O Uncollectible Accounts Expense is a contra asset account. O The cost less the salvage value equals the depreciable base of a long-term asset. O Each adjustment for an accrued expense includes a credit to a liability account. O If a firm records prepaid expense items in an expense account when they pay for them, their adjustment at the end of the period to record the unexpired portion would include a debit to an asset account and a credit to an expense account.