Multiple Choice
Asset disposal
A) occurs as soon as an asset is fully depreciated
B) requires no special authorization
C) automatically initiates the purchase of a replacement asset
D) must follow formal authorization procedures
Correct Answer:
Verified
Correct Answer:
Verified
Q23: Accounts payable<br>A)signs paychecks<br>B)prepares the payroll voucher<br>C)reconciles time
Q24: How do fixed asset systems differ from
Q25: Because a time clock is used,no supervision
Q26: Cost accounting updates work-in-process accounts from<br>A)time cards<br>B)the
Q27: Why should the employee's supervisor not distribute
Q29: The depreciation schedule shows when assets are
Q30: Fixed asset accounting systems include cost allocation
Q31: Why should employee paychecks be drawn against
Q32: Which of the following situations represents an
Q33: Payroll checks are typically drawn on<br>A)the regular