True or False: A rotating item is a serialized asset defined with a common item number.

A rotating item is indeed a serialized asset that is defined with a common item number. In systems like Maximo, a rotating item typically refers to equipment or assets that move or rotate, such as motors, pumps, and fans. These items are serialized to track them individually, which is critical for maintenance, repair, replacement, and inventory management.

The common item number allows for the categorization of similar items under one identifier while still maintaining individual tracking through serial numbers. This setup not only enhances organization and reporting processes but also ensures that each item's specific maintenance history and lifecycle can be monitored while still being grouped with like items for inventory efficiency.

Other choices do not apply to the definition of a rotating item as they do not capture the essence of serialized assets or their classification based on a common item number. The complexity of managing and tracking such assets is clear in the context of Maximo and its Asset Management functionalities.