Which of the following International Standards is used to form the basis of an asset...

The correct answer is C. ISO 14224 . ISO 14224 is widely used as a reference for the collection and exchange of reliability and maintenance data for equipment, especially in asset-intensive industries. One of its important contributions is structured equipment taxonomy, which supports consistent asset hierarchy development. An asset hierarchy must organize the plant, systems, equipment, sub-equipment, and maintainable items in a logical structure so maintenance history, failure data, spare parts, PM tasks, inspection results, and reliability analysis can be tied to the correct asset level. ISO 16224 and ISO 15224 are not the recognized standards used as the basis for asset hierarchy in this context. In CRL Asset Management, asset hierarchy quality is foundational because poor hierarchy creates poor CMMS data, weak work history, inaccurate cost allocation, and unreliable failure analysis. A structured hierarchy allows the organization to connect asset information to decision making, criticality, lifecycle planning, maintenance strategy, and performance reporting. ISO 14224 is therefore the correct standard reference.