Fixed Asset Accountant Mock Interview

Master 30 Fixed Asset Accountant interview questions covering depreciation, capitalization policies, and reconciliations.

Question 26 of 30

Please rank these asset classes in order from shortest useful life to longest: Leasehold improvements, computer, and furniture.

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Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

All fixed assets are capitalized and then depreciated over their useful lives (the amount of time an asset can be in service before it is considered obsolete). This question tests whether you have a basic understanding of the useful lives of some common asset classes.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"Computers usually have the shortest useful lives at three to five years. After that, technology begins to become obsolete and should be replaced. Furniture commonly has a useful life of five to ten years. Finally, leasehold improvements have the longest useful lives as they are permanent changes to a physical space, such as walls. Typically, the useful life of a leasehold improvement is anywhere from ten years to forty years."

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