Which of the following statements concerning fixed assets is incorrect?

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

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

c) Capital expenditures require that depreciation be revised.

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

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