Check your knowledge

• 2 min.

1.

Where can Fixed Assets Templates be applied?

(Choose 3 correct answers)

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

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

(Choose 2 correct answers)

Clear and balance
Write-off
Reverse acquisition
Sale
Scrapping
3. 

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

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 be notified when a matching item is posted on future purchase invoices.
You can enter multiple items on a single fixed asset card.
4.

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

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