Which of the following statements concerning fixed assets is incorrect?

a) If a company sells a fixed asset for less than its book value, a loss is recognized.

b) An asset's expected useful life refers to the period of time over which the asset is expected to be in service.

c) Routine repairs and maintenance would increase a fixed asset's book value.

d) Capital expenditures require that depreciation be revised.

e) The depreciable cost of a fixed asset includes all amounts spent to get the asset ready for use.