What action is required in the event of a loss of nonexpendable property?

Study for the Property Accountability Test. Prepare with flashcards and multiple choice questions. Practice understanding accountability systems, property management strategies, and compliance. Get exam-ready!

In the context of accountability for nonexpendable property, the correct action to take in the event of a loss is to conduct an investigation or initiate a Financial Liability Investigation of Property Loss (FLIPL). This process is essential because it allows for a thorough examination of the circumstances surrounding the loss, determining whether negligence or misuse occurred, and identifying responsible parties.

A FLIPL is formalized to assess the situation and determine liability, ensuring that due process is followed in addressing the loss. It plays a critical role in maintaining accountability within the organization, preventing future losses, and assuring that all parties understand their responsibilities regarding property management.

Addressing the other choices, while immediate replacement might seem like a quick solution and reporting to the supply chain ensures that records are updated, these actions do not address the root cause of the loss and the necessary accountability measures effectively. Filing a claim could be appropriate in some contexts, but it typically comes after a determination of liability through an investigation. Thus, the FLIPL process is singularly focused on understanding the circumstances of the loss and assigning responsibility, making it the correct answer.

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