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
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
