Step 1: Facts
An LED is a heavily doped p-n junction. It emits light when forward biased, because electron-hole recombination releases photons. The photon energy is close to, and a little less than, the band gap.
Step 2: Check
Statements (A), (B) and (D) are correct. Statement (C) says it emits light only when reverse biased, which is wrong. Option (C).
Final Answer:
Statement C is not correct.
\[ \boxed{\text{(C)}\ \text{(C)}} \]