Activities involved with the fixed assets disposal phase of the fixed assets processes include all of the following, except:
A)Adjusting periodic depreciation
B)Disposed assets are removed from the fixed asset subsidiary ledger
C)Gains or losses resulting from disposal are computed
D)The depreciation amounts related to the disposed assets are removed from the depreciation schedule and the fixed asset subsidiary ledger

Question

Quizplus · Accepted Answer

The activities involved with the fixed assets disposal phase include disposing of assets, removing them from the fixed asset subsidiary ledger, computing gains or losses resulting from disposal, and removing depreciation amounts related to the disposed assets from the depreciation schedule and the fixed asset subsidiary ledger. Adjusting periodic depreciation is not an activity involved in the disposal phase as it relates to the ongoing maintenance of fixed assets.

Activities Involved with the Fixed Assets Disposal Phase of the Fixed