Assets - Self Assessment

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* 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.

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

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* 2. The fair market value for surplus assets identified for disposal is determined by:

(a) The custodian.

(b) Procurement Services.

(d) The Department Head.

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* 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.

(d) None of the above.

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* 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.