Strong internal control activities in the fixed assets cycle include the use of identification tags secured to assets for proper tracking.

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The use of identification tags secured to assets is a common practice in the fixed assets cycle to help ensure that assets are properly tracked and accounted for. This is an example of a strong internal control activity that can help prevent loss, theft, or other issues that could impact the value or usefulness of fixed assets. Other internal control activities in this cycle might include regular audits or inventories of fixed assets, implementing robust record-keeping practices, and ensuring that only authorized personnel are able to access or modify information related to fixed assets.

Strong Internal Control Activities in the Fixed Assets Cycle Include