The condition of an asset is based on an evaluation of the physical status/state of an asset, its ability to perform as planned, and its continued usefulness.
The usefulness of an asset is a factor that's considered when assessing it.
The asset's performance abilities are almost never factored into the calculus.
The child is being watched by people.
His mind was stirred.
Wages are not rising.
A woman enjoys a quiet moment by herself in a park.
Hikers are climbing a mountain
A group of women are performing an act.