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Assets

1. The procedure in place to verify that all fixed assets (e.g. equipment and furniture) are accounted for is:
(a) Placing reliance on staff to report missing assets.
(b) Maintaining an ad hoc listing of fixed assets.

(c) Maintaining a formal listing of fixed assets that is reconciled at least annually to a
          physical inventory of assets.

(d) As in (c) above with the physical inventory performed by someone independent of the
          maintenance of the fixed assets listing.

2. The fair market value for surplus assets identified for disposal is determined by:
(a) The custodian.
(b) Procurement Services.
(c) The Business Officer.
(d) The Department Head.

3. Following the sale of surplus assets:
(a) The department's fixed asset listing is updated.
(b) A copy of the Fixed Asset Disposal Form is forwarded to the Financial Services
          Department.
(c) Both (a) and (b) above.
(d) None of the above.

4. When University equipment is used at locations other than University premises:
(a) The 'Use of Fixed Asset Away From University Premises Form' is completed.
(b) The 'Use of Fixed Asset Away From University Premises Form' is completed; except for
          equipment purchased from research grant accounts as this is the responsibility of
          Principal Investigators.
(c) The 'Use of Fixed Asset Away From University Premises Form' is completed; except for
           leased equipment, since it is tracked on a lease inventory.
(d) The 'Use of Fixed Asset Away From University Premises Form' is not completed.

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