Check your knowledge

• 2 min.

1.

Where can Fixed Assets Templates be applied?

(Choose 3 correct answers)

Inventory items
General journals
Fixed asset cards
Purchase invoices
Vendor ledger entries
2. 

What is the function of the Maintain Quantity option in a Fixed Asset Card?

You can be notified when a matching item is posted on future purchase invoices.

You can combine this fixed asset in a category with others when generating a report.

You can prevent users from acquiring other fixed assets in the same category.

You can enter multiple items on a single fixed asset card.
3.

Which of the following are available options for partial disposal of fixed assets?

(Choose 2 correct answers)

Clear and balance
Reverse acquisition
Write-off
Scrapping
Sale
4.

Match the scenario to the functionality in the Extended Fixed Assets module.

A. 
A financial manager needs to show an overview of how vehicle fixed assets have changed over the last year.
B. 
A bookkeeper is processing a purchase invoice that includes kitchen appliances, but is unsure how to set these up as fixed assets.
C. 
A new office is receiving desks, chairs and computer equipment for forty staff, each of which needs to be processed as a fixed asset.
D. 
From the forty computer monitors set up as fixed assets, two are broken and need to be scrapped.
Check your answers