I once flew an aircraft and the knobs on the transponder didn't show the number that the transponder was transmitting.
It was not my fault.... and I reported it to the maintenance release and the friendly ATC accommodated by letting me use the code that it was currently on.
To be "busted" for this being "not my fault" would be a raw deal.
FTDK - I usually reserve the "recycle" comments for when it's turned off and should be turned on. Usually happens when on the purple area of the VTC if you know what that means
can't give more info on what I mean by purple without incriminating myself.