We are analyzing the nature of solutions for a square system of linear equations $AX=B$ based on the determinant of the coefficient matrix $A$.
Step 1: \color{redAnalyze the case where $|A| \ne 0$
When the determinant of the coefficient matrix is non-zero, the matrix $A$ is non-singular and invertible.
We can pre-multiply the equation $AX=B$ by $A^{-1}$ to get $X = A^{-1}B$.
Since the inverse is unique, the system will always have exactly one unique solution.
A system that has at least one solution is called consistent.
Therefore, if $|A| \ne 0$, the system is consistent and has a unique solution.
Step 2: \color{redAnalyze the case where $|A| = 0$ and $(adj~A)B \ne 0$
When $|A|=0$, the matrix is singular and does not have an inverse.
In this scenario, we check the product of the adjoint of A and the constant matrix B.
If $(adj~A)B \ne 0$, the equations are contradictory, and the system has no solution.
A system with no solution is called inconsistent.
Statement (4) is therefore incorrect because it claims the system is consistent in this case.
Step 3: \color{redAnalyze the case where $|A| = 0$ and $(adj~A)B = 0$
If both the determinant is zero and the product $(adj~A)B$ is the zero matrix, the system is usually consistent and has infinitely many solutions.
However, statement (1) is incomplete because it only mentions $|A|=0$ without the adjoint condition.
Statement (2) is incorrect because an inconsistent system cannot have "finitely many" solutions; it must have zero solutions.
Step 4: \color{redConclusion
Comparing our findings with the options, statement (3) is a fundamental theorem of linear algebra.
If $|A| \neq 0$, the system is guaranteed to be consistent and have a unique solution.
This matches Option (3).