CPPS - Module 1 exam 2023 with 100% correct answers
Accountability - correct answerTo possess and have use of the property of another with delegated duties and responsibilities, subject to penalty in case of default. Note those "accountable do not have legal or rightful title to the property. Ownership - correct answerHaving legal or rightful title to property. Responsibility - correct answerTo be answerable for a trust or obligation. Two key decisions when defining the "control" population of property within an organization. - correct answer1. What will be controlled 2. To what level of detail will it be controlled. Cornerstone of property control - correct answerCommunication and training Property Management - correct answerThe exercise of a restraining or governing influence over the acquisition, use, and disposition of personal property. Property Management Office (PMO) - correct answerThe department within an organization that is responsible for controlling or managing property. Ensures assets are controlled, preserved, protected, and maintained. Records - correct answerGenerally established during the receiving process and modified throughout the property life cycle. Includes asset identification, description, manufacturer, model number, serial number, date of receipt, location, financial codes, acquisition code, assignment of responsibility, and acquisition method.
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