Which Type of Information Below Should Not Be Maintained by the AIS

question 68

Multiple Choice

Which type of information below should not be maintained by the AIS in accounting for fixed assets?

• A)Identification/serial number .
• B)Cost.
• C)Improvements.
• D)Market value.

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Definitions:

Parent

A corporation that owns more than 50% of the voting stock of another company, making the latter its subsidiary.

Subsidiary

A company that is controlled by another company, known as the parent company, through ownership of more than half of its voting stock.

Outstanding Bonds

Bonds issued by a company or government that are currently held by investors and have not yet been repaid.

Consolidated Statement

A combined financial representation of a parent company and its subsidiaries, showcasing the total assets, liabilities, equity, income, expenses, and cash flows of the entire group.