What term describes the obligation to keep records of property and funds?

The term that best describes the obligation to keep records of property and funds is accountability. Accountability refers to the duty to report, explain, and be answerable for resulting consequences related to the management and oversight of property and resources. This involves maintaining accurate and detailed records to ensure that all assets are accounted for and that any discrepancies can be identified and addressed.

In the context of military supply and logistics, accountability is crucial as it ensures that all items are properly documented, tracked, and managed. This proper documentation not only aids in operational efficiency but also helps prevent loss and mismanagement of resources.

Responsibility, while closely related, focuses more on the obligation to carry out assigned tasks rather than the obligation to document and record assets. Control refers to the measures put in place to manage and govern the use of assets, while oversight involves monitoring and evaluating activities or processes without necessarily focusing on record-keeping.