1. What are the three key elements you need to consider when developing the definition of asset for your organization?

a. Non-consumable, acquisition cost, and useful life
b. Manufacturing year, current market value, and duration of program
c. List of accessories, size, and value of the item

2. How would items such as office furniture and small kitchen equipment (e.g. water kettle, toaster) typically be classified?

a. Inventory
b. Donor asset
c. Organizational asset

3. Which department within an organization should be notified when preparing to dispose of an asset?

a. Finance Department
b. Human Resources Department
c. Information Technology Department
d. Maintenance Department