The primary accounting record for manufacturing equipment and other fixed assets is the
A) depreciation ledger.
B) fixed asset master file.
C) asset inventory.
D) equipment roster.

Question

Quizplus · Accepted Answer

The fixed asset master file is the primary accounting record for manufacturing equipment and other fixed assets. It includes information such as purchase date, cost, depreciation schedule, and location. The depreciation ledger is a secondary record that is used to track the depreciation expense and accumulated depreciation on fixed assets. The asset inventory and equipment roster are related to physical counts and tracking of assets, but they do not provide the required accounting information for financial reporting purposes.

The Primary Accounting Record for Manufacturing Equipment and Other Fixed