Multiple Choice
Which of the following is not a characteristic of the fixed asset system?
A) Acquisitions are routine transactions requiring general authorization.
B) Retirements are reported on an authorized disposal report form.
C) Acquisition cost is allocated over the expected life of the asset.
D) Transfer of fixed assets among departments is recorded in the fixed asset subsidiary ledger.
Correct Answer:
Verified
Correct Answer:
Verified
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