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.

Question

Quizplus · Accepted Answer

Fixed asset accounting is primarily concerned with tracking the purchase, depreciation, and disposal of a business's physical assets, such as equipment or property. As such, it is responsible for automatically calculating and accumulating depreciation, which is a key function of fixed asset accounting. Payroll and employment taxes, recording investments in securities, and recording improvements to leased property or equipment are all separate accounting tasks that are not directly related to fixed asset accounting.

Fixed Asset Accounting