Which of the following is a step in limiting the opportunity for theft?

Identifying items that are vulnerable to theft is a crucial step in limiting the opportunity for theft because it allows security personnel and management to focus on protecting specific assets that might be targeted by potential thieves. By understanding which items are more likely to be stolen due to their value, portability, or desirability, security measures can be tailored to enhance their protection.

For instance, if an organization recognizes that laptops and electronic devices are frequently stolen, they can implement more robust security measures in areas where these items are stored. This proactive approach not only helps in preventing theft but also establishes a culture of awareness and prevention among staff.

The other options, while they may contribute to overall security, do not directly address the foundational step of identifying and analyzing the vulnerabilities of specific items. Password-protecting serial numbers may assist in tracking stolen items, guarding areas can be a reactive measure, and monitoring employee activities might not necessarily address external theft threats effectively. The key is to understand and prioritize the vulnerabilities to mitigate potential theft.