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AR 710-2 requires a physical inventory of non-expendable property to be conducted at least annually. Additionally, inventories should be performed whenever there is a change in property accountability, such as a transfer of responsibility or when discrepancies are identified. Regular inventories ensure accurate accountability and management of government property.
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is Wood is FLAMMABLE Physical or Chemical?
Chemical: flammability requires a chemical reaction to occur in the presence of oxygen at a sufficiently high temperature.
What element of a storekeeper's job is most difficult?
Managing inventory effectively can be the most difficult element of a storekeeper's job. This includes ensuring there are enough products in stock to meet demand, while also minimizing excess inventory to control costs. Balancing these factors requires careful planning and organization.
What is an example of moderately active job?
A moderately active job is one that requires a mix of physical activity and sedentary tasks throughout the day. An example is a retail sales associate, who spends time standing, stocking shelves, and assisting customers, but also has periods of sitting while managing transactions or inventory. This balance of movement and rest characterizes the moderate activity level of the role.
Identify two types of transactions which requires specialty contracts?
Real estate transactions: Buying or selling real estate often involves specialized contracts to address issues such as zoning, property condition, and financing terms. Intellectual property transactions: Licensing patents, trademarks, or copyrights typically requires specialized contracts to outline rights, royalties, and usage restrictions.
What is constructive occupation?
Constructive occupation refers to a legal principle in property law where a person can establish ownership of land or property by demonstrating effective control or use of it, even without physical possession. This concept often applies in cases of adverse possession, where a person has occupied land for a specific period without the owner's permission, thereby potentially gaining legal title. Constructive occupation typically requires the occupation to be open, notorious, continuous, and exclusive. It serves to encourage the productive use of land and resolve disputes over property rights.
How will identifying if a property is chemical or physical?
A physical property can be observed without changing the sample. Chemical properties requires you to change the sample.
what physical property requires no tools scales or other equipment to determine?
color
Is colorless a physical change or a chemical change?
Colorless is a physical property. Determining change requires you to compare two things.
Cost of goods sold is determined only at the end of the accounting period in?
The inventory system used to determine the cost of goods sold at the end of accounting period is called Periodic Inventory System. This requires physical inventory check.
Which type of inventory is conducted jointly by the incoming and outgoing PBO and requires property not issue on hand receipt?
The type of inventory conducted jointly by the incoming and outgoing Property Book Officer (PBO) is known as a "change of responsibility inventory." This inventory ensures an accurate accounting of all property not issued on hand receipt during the transition between officers. It helps to verify that all items are accounted for and in good condition before the new PBO takes over responsibility.
What are the disadvantages of a periodic inventory system?
The perpetual inventory system is more complicated, requires more accounting entries and is more costly the periodic inventory system does.
What are the disadvantages of periodic inventory system?
The perpetual inventory system is more complicated, requires more accounting entries and is more costly the periodic inventory system does.
What skills do you need to work in inventory?
Inventory work requires a decent grasp in the field of accountancy and basic mathematics. It also requires a fine eye for detail as well as thoroughness in one's work.
What type of property cannot be observed without changing composition of a substance?
a physical property a chemical property; physical properties are properties such as freezing/melting/boiling points
What type of inventory requires 100 of all lines?
Wall to wall
Does the full disclosure principle requires that the notes to the financial statements report a change in accounting method for inventory?
The full disclosure principle requires that the notes to the financial statements report a change in accounting method for inventory.
is Wood is FLAMMABLE Physical or Chemical?
Chemical: flammability requires a chemical reaction to occur in the presence of oxygen at a sufficiently high temperature.
