A: Yes. An Asset can be attached to multiple Agreements, including some that utilize a Project and some that may not. Because an Asset can only be attached to one Project, any Agreements it is attached to must utilize that Project (if the Agreement utilizes a Project at all).
A photographer is hired for a series of photo shoots under a master work for hire Agreement (#MS001), where all rights are granted by the photographer. Several models are hired for a specific photo shoot Project (#BB001). A photo is taken by the photographer by features multiple models. The photo Asset is attached to Agreement #MS001 to inherit rights for the photographer, and the Asset is also attached to Project #BB001, which will allow it to inherit rights for all Parties who are contributors to the Asset and assigned to the Project, i.e. all the models in the photo.