B0240 Mitsubishi Sst is described as Fuel System Too Rich, which basically means bank 1's oxygen sensor has detected a rich condition of fuel. This means there's not enough oxygen in the exhaust from too much fuel being delivered into the air and gas mixture for combusion. The spark should have a light tan color. If the sensor probe comes with white and chalky parts, this means it has been lagging between switching phases, and should be replaced.
Possible Causes :
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With the valve disconnected, the red voltmeter lead should be attached to the IMRC valve power wire and the black voltmeter lead connected to ground. It should be pretty close to battery voltage (12 volts). If not, then this is the circuit that has the problem.
Diagnostic trouble code B0240 Mitsubishi Sst is not difficult to diagnose and repair. Thus, it always pays to have a qualified technician to look after your vehicle should this error code arise.
Diagnosing this code requires the engine to be in good running shape, without unmetered air entering the engine. If other codes that relates to misfiring condition, lean running or air entering the engine is present, then you must first fix those error codes before B0240 Mitsubishi Sst.
Fortunately, B0240 Mitsubishi Sst is a fairly common OBD code, meaning that it applies to all makes and models of vehicles made after 1996.