Fixed Asset Accounting

question 78

Multiple Choice

Fixed asset accounting

• A)ensures that payroll and employment taxes are kept current.
• B)automatically calculates and accumulates depreciation.
• C)records if your business keeps surplus cash invested in securities.
• D)records if your business has made improvements to leased property or equipment.

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Definitions:

Management Pay

Compensation, including salaries, bonuses, and other benefits, provided to individuals in managerial positions within organizations.

Division Performance

Evaluation of a specific division's operations within a larger company, focusing on its efficiency, productivity, and contribution to overall corporate goals.

Transfer Price

The price at which goods, services or intangible properties are traded between related entities within an organization.

Buying Division

A department within a company responsible for making purchases of goods and services needed by the organization.