The Responsibility for Keeping the Records for an Asset Should

question 146

True/False

The responsibility for keeping the records for an asset should be separate from the physical custody of that asset.

---

Definitions:

Asset Utilization

A measure of how efficiently a company uses its assets to generate revenue.

Assets

A firm’s economic resources, or items of value that it owns, such as cash, inventory, land, equipment, buildings, and other tangible and intangible things.