All of the following are processed by the Fixed Asset System except
A) sale of unneeded equipment
B) purchase of raw materials
C) repair of production equipment
D) purchase of a new plant

Question

Quizplus · Accepted Answer

The Fixed Asset System is designed to manage and record the acquisition, depreciation, and disposition of fixed assets such as property, plant, and equipment. While purchasing a new plant, repairing production equipment, and selling unneeded equipment involve fixed assets and would be processed by the Fixed Asset System, the purchase of raw materials does not involve fixed assets and would not be processed by the system.

All of the Following Are Processed by the Fixed Asset