Which of the Following Are Not Included in a Fixed-Asset

question 15

Multiple Choice

Which of the following are not included in a fixed-asset ledger?

• A)List of all the assets.
• B)Estimated useful life.
• C)salvage value.
• D)All the above are included.

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Definitions:

Freight In

The cost associated with transporting goods from suppliers to the buyer, which is added to the cost of inventory.

Inventory Shrinkage

The loss of products between purchase from supplier and sale to customer, often due to theft, damage, or errors.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the correct period.

Periodic Inventory System

An accounting method that determines inventory levels and cost of goods sold at the end of an accounting period through physical counting.