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How often is a Biennial Inventory required?

  1. Every year

  2. Every 2 years

  3. Whenever there is a theft

  4. Every 6 months

The correct answer is: Every 2 years

A Biennial Inventory is mandated to be conducted every two years. This requirement ensures that organizations maintaining inventory—especially those dealing with animals or related services—accurately track their assets and resources over time. Conducting the inventory biennially enables agencies to maintain up-to-date records, assess the status of their inventory, and identify any discrepancies or needs for adjustment in their record-keeping processes. By standardizing this inventory check to a two-year cycle, organizations can effectively manage their resources without engaging in the more frequent audits that may not be necessary. This structure also aids in compliance with regulatory standards, enhances accountability, and can assist in operational planning and decision-making.