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GFEBS L436C Questions and Answers | Latest Update | 2024/2025 | 100% Pass $9.66   Add to cart

Exam (elaborations)

GFEBS L436C Questions and Answers | Latest Update | 2024/2025 | 100% Pass

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GFEBS L436C Questions and Answers | Latest Update | 2024/2025 | 100% Pass What are real property assets? Real property assets include land, buildings, structures, and other fixed assets that are owned or leased. Why is tracking real property important? It ensures accurate financial repo...

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  • September 19, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • GFEBS L436C
  • GFEBS L436C
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GFEBS L436C Questions and Answers |
Latest Update | 2024/2025 | 100% Pass

What are real property assets?


✔✔ Real property assets include land, buildings, structures, and other fixed assets that are owned

or leased.




Why is tracking real property important?


✔✔ It ensures accurate financial reporting, asset management, and accountability for

government-owned property.




What is the role of the Real Property Specialist?


✔✔ The Real Property Specialist is responsible for recording, updating, and maintaining real

property records.




How does the system support asset depreciation?


✔✔ The system calculates depreciation for real property assets automatically based on their

useful life and acquisition cost.




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, What data is required to add a real property asset?


✔✔ Data such as location, acquisition cost, asset type, and useful life are required to add a real

property asset.




What is the significance of maintaining accurate real property records?


✔✔ Maintaining accurate real property records ensures compliance with financial regulations

and facilitates proper asset management.




How often should real property records be updated?


✔✔ Real property records should be updated regularly, particularly when there are changes in

asset status, ownership, or value.




What are the key components of a real property record?


✔✔ Key components include asset description, location, acquisition date, cost, depreciation

schedule, and current value.




What procedures are followed when disposing of a real property asset?


✔✔ Procedures include documenting the disposal, updating records, and ensuring compliance

with relevant regulations and policies.

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