Question

After which step of distributed/transported of special handling assets is a hand receipt completed?

a) Inventory Check
b) Issue of Assets
c) Transportation
d) Receipt of Assets

Answer 1

Hand receipts are completed after the Receipt of Assets, a step that documents the formal transfer of responsibility for special handling assets.

Step-by-step explanation:

The hand receipt is completed after the Receipt of Assets. When special handling assets are transported and distributed, the final step in the chain of custody is to acknowledge the receipt of these assets. Once the assets are received, it is crucial that the receiver confirms the delivery by completing a hand receipt. This document serves as a proof of transfer from one party to another and ensures that the responsibility for the assets is formally handed over.

Completing a hand receipt after receipt of assets is essential in asset management as it prevents disputes regarding the condition and the ownership of the assets. It also helps to maintain an accurate record of where and with whom the assets currently reside.