The record detailing the amounts and timing of depreciation for all fixed asset categories, except land and any construction-in-progress accounts, is called:
A)Fixed asset subsidiary ledger
B)Capital budget
C)Depreciation schedule
D)Depreciation method

Question

Quizplus · Accepted Answer

The depreciation schedule is a record that shows the depreciation amounts and timing for all fixed asset categories, except for land and any construction-in-progress accounts. It provides important information for financial reporting and tax purposes and helps companies manage their fixed assets. The other options, such as the fixed asset subsidiary ledger, capital budget, and depreciation method, are important components of fixed asset management but do not specifically refer to the record of depreciation amounts and timing.

The Record Detailing the Amounts and Timing of Depreciation for All