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PPE Inventory Quiz

Authored by Mary Joy Cerillo_ RTU

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Professional Development

Used 5+ times

PPE Inventory Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Are tangible items that are: purchased, constructed, developed or otherwise acquired; held for use in the production or supply of goods or services or to produce program outputs; for rental to others (other than investment property); for administrative purposes; expected to be used during more than one reporting period; and not intended for resale in the ordinary course of operations.

Property, Plant and Equipment

Inventory

Building

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Are tangible items which meet the definition and recognition criteria of Property, Plant and Equipment but below the capitalization threshold of P50,000

Semi-expendable Equipment

PPE

Inventory

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of an item of PPE shall be recognized as Property, Plant and Equipment if it meets the capitalization threshold of ___________.

P50,000

P15,000

P5,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Shall be responsible for the actual count to ascertain the existence, completeness and condition of all PPEs owned by the government agency.

Inventory Committee

Investigation Committee

Disposal Committee

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is used for easy identification of each PPE item, that includes the: Year of Acquisition, PPE sub-major account group, General Ledger account, Serial Number, and Location/Office.

Property Number

Cellpone Number

Asset Number

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Contains, at the least, the specific assignments/duties of the Committee members, the cut-off date and a schedule specifying the dates and locations of the inventory taking activities from start up to the targeted completion of the physical inventory.

Physical Inventory Plan

Annual Plan and Budget

Work and Financial Plan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It includes the latest RPCPPE/Physical Inventory Report, List of PPE items which are included in the RPCPPE but not recorded in PPELCs, and List of PPE items which are recorded in the PPELCs but not recorded in RPCPPE.

Inventory Working Papers

List of PPEs Found at Station

List of Non-existing/missing PPEs

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