220-1102 · Question #437
A company's assets are scanned annually. Which of the following will most likely help the company gain a holistic view of asset cost?
The correct answer is A. Creating a database. To gain a holistic view of asset cost, creating a comprehensive database is essential. This allows for centralized tracking of purchase prices, maintenance, depreciation, and other financial aspects associated with each asset.
Question
A company's assets are scanned annually. Which of the following will most likely help the company gain a holistic view of asset cost?
Options
- ACreating a database
- BAssigning users to assets
- CInventorying asset tags
- DUpdating the procurement account owners
How the community answered
(63 responses)- A90% (57)
- B2% (1)
- C5% (3)
- D3% (2)
Why each option
To gain a holistic view of asset cost, creating a comprehensive database is essential. This allows for centralized tracking of purchase prices, maintenance, depreciation, and other financial aspects associated with each asset.
Creating a database for assets enables the company to store and correlate various pieces of information, including initial purchase cost, maintenance expenses, depreciation, and other financial data over the asset's lifecycle. A structured database provides the means to query and analyze this data for a holistic cost view.
Assigning users to assets helps track accountability and usage, but does not inherently provide a holistic view of an asset's total cost.
Inventorying asset tags helps with physical tracking and auditing, but this alone does not provide the financial data necessary for cost analysis without a corresponding database.
Updating the procurement account owners tracks responsibility for purchases, but does not provide a comprehensive financial history or overall cost of an asset throughout its lifespan.
Concept tested: Asset management and cost tracking
Topics
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