CPPB Certified Professional Public Buyer Exam

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Which of the following is the primary objective of conducting a periodic physical inventory of a public agency's capital assets?

To appraise the current fair market value of all assets for insurance purposes. To identify assets that are underutilized by staff. To verify the accuracy of property records, confirm the physical location of assets, and identify any unrecorded disposals or losses. To determine the remaining useful life of each asset for budget forecasting.

Correct Answer:

To verify the accuracy of property records, confirm the physical location of assets, and identify any unrecorded disposals or losses.

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