Which of the Following Is Not a Characteristic of the Fixed

question 12

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:

Convergent Boundary

A region where two or more tectonic plates are moving toward each other, often causing one plate to slide beneath the other.

Subduction Zone

A region of the Earth's crust where one tectonic plate moves under another, leading to volcanic activity, earthquakes, and the formation of mountain ranges and oceanic trenches.

Andesite

A volcanic rock of intermediate composition, typically grey or bluish-grey, composed mainly of plagioclase and one or more mafic minerals.

Composite Volcanoes

Also known as stratovolcanoes, are large, symmetrical volcanoes composed of alternating layers of explosive ash and lava flows, often characterized by a conical shape.