Which of the Following Is Not a Characteristic of the Fixed

question 13

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.

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Definitions:

Political Influence

The power individuals, groups, or organizations hold to sway or alter government policy or decisions in their favor, often through lobbying or other means.

Investment Funds

Pooled funds that gather resources from many investors to invest in securities such as stocks, bonds, money market devices, and other assets.

Government Allocated

Refers to resources, funds, or opportunities distributed by the government according to certain criteria or needs.

Mistakenly Made

Created or performed in error, not aligning with the intended outcome or specification.