Check your knowledge

• 2 min.

1.

Where can Fixed Assets Templates be applied?

(Choose 3 correct answers)

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

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

You can enter multiple items on a single 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.
3.

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.
4.

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

(Choose 2 correct answers)

Sale
Scrapping
Reverse acquisition
Clear and balance
Write-off
Check your answers