10.0138 Fixed asset c1asses-5. Equipment under collective control.

5. Equipment under collective control:

(a) This classification applies to equipment that is accounted for as a group rather than as single units. The individual piece of equipment loses its identity as such and is one of a group. For this purpose, the equipment must be the same with respect to function, material, shape, and size.

(b) Equipment under collective control must meet 1 or more of the following conditions:

(1) The cost of each item in the group must be less than $100;

(2) It has no serial or model number given it by the manufacturer;

(3) The relationship of maintenance cost to the acquisition cost of the equipment and the observance of its performance are not pertinent factors in determining replacement policy.

History: Rule 3.78, eff 17 Apr 78, 300 GASM § 6.5.