Exam (elaborations)
GFEBS L436C Questions and Answers | Latest Update | 2024/2025 | 100% Pass
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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GFEBS L436C
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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.
1
, 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.
2