Question

Which report indicates each specific item for which a specific custodian is responsible and the quantity and dollar value of assets on hand?

a) Property Custodian Report
b) Asset Inventory Report
c) Custodial Responsibility Report
d) Inventory Valuation Report

Answer 1

The Custodial Responsibility Report is the document that lists individual items tied to a custodian's responsibility, including quantity and monetary value.

Step-by-step explanation:

The report that indicates each specific item for which a specific custodian is responsible, as well as the quantity and dollar value of assets on hand, is known as the Custodial Responsibility Report. This type of report is essential for maintaining accurate records of assets and ensuring accountability. It typically lists each asset, the custodian in charge, and detailed financial information such as the cost and accumulated depreciation to provide the current value of the asset held by the custodian.