Knowledge quiz

It's time to put what you've learned to the test, get 7 right to pass this unit.

1.

Depreciation is posted as a company's expense.

Choose the correct answer.
2.

Asset net book value = historical item cost - accumulated depreciation

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3.

What is a virtual fixed asset?

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4.

A Capitalization document can be created automatically by an A/R Invoice.

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5.

A depreciation run creates journal entries.

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6.

Creating a virtual fixed asset is available only if you use numbering series for the asset master data.

Choose the correct answer.
7.

A Retirement document can be created by an A/P invoice.

Choose the correct answer.
8.

An asset can be associated with several asset classes.

Choose the correct answer.

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