Which of the following procedures is NOT correct during a touch and go landing?

The correct choice addresses a common misunderstanding about speed management during a touch-and-go landing procedure. During this maneuver, transitioning to level flight generally requires maintaining appropriate airspeed and ensuring the aircraft is in a safe and controlled flight state.

In this context, maintaining a minimum airspeed of 120 KIAS, especially during the transition to level flight, can potentially lead to unsafe conditions. This could result in insufficient control authority or make it harder to manage the aircraft’s performance characteristics as the pilot prepares to continue the flight. A more flexible approach to speed management is essential during a touch-and-go, as it allows for better responsiveness and adaptability to the aircraft's dynamics at that moment.

The other procedures, such as reducing power down to a specific setting just before reaching altitude or adjusting flaps and managing power relative to airspeed, align with proper techniques for touch-and-go landings. Transitioning smoothly while managing airspeed effectively is crucial for the safety and success of this maneuver.