The Fixed Asset System performs all of the following except
A) determines the need for new assets
B) maintains depreciation records
C) records retirement and disposal of assets
D) tracks the physical location of fixed assets

Question

Quizplus · Accepted Answer

The Fixed Asset System is responsible for maintaining accurate records of all fixed assets owned by the organization, tracking their physical location, maintaining depreciation records, and recording retirement and disposal of assets. However, it does not determine the need for new assets, as this is typically the responsibility of management or the department requesting the asset.

The Fixed Asset System Performs All of the Following Except