Which of the following accounting functions focuses the most on automatically calculating and accumulating depreciation?
A) Credit card sales
B) Fixed asset accounting
C) Payroll records
D) Accounts receivable records

Question

Quizplus · Accepted Answer

Fixed asset accounting is the accounting function that focuses the most on automatically calculating and accumulating depreciation. This is because fixed assets, such as machines and buildings, lose value over time due to wear and tear and need to be depreciated. Other accounting functions, such as credit card sales, payroll records, and accounts receivable records, do not typically involve depreciation calculations.

Which of the Following Accounting Functions Focuses the Most on Automatically