DH_Fixed Assets

What is considered a movable equipment?

• Something that costs $500 or more and lasts one year or longer

• Something that costs $1,000 or more and lasts six months or longer

• Something that costs $3,000 or more and lasts two years or longer

• Something that costs $2,000 or more and lasts one year or longer

Who is responsible for keeping equipment records up to date?

• The equipment coordinator

• The faculty members

• The department head

• The administrative staff

What should be done if equipment is taken home?

• Inform the faculty members

• Notify the police department

• No action is needed

• Fill out a home authorization form

How often are departmental inventories performed?

• Once every three years

• Once every two years

• Once every six months

• Once every year

What must be done with equipment that is no longer needed?

• Send it to surplus

• Sell it to another department

• Throw it in the trash

• Donate it to charity