The AICPA's Trust Services Principles Practice That States the Organization

question 3

Multiple Choice

The AICPA's Trust Services Principles practice that states the organization should use customers' personal data only in the manner described in "notice" is under the title of:

• A)Security for privacy.
• B)Monitoring and enforcement.
• C)Use and retention.
• D)Choice and consent.

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Definitions:

Asset's Value

The monetary worth assigned to an asset, based on factors like market value, cost, and depreciation.

Benefit Period

The duration during which benefits, such as those from an insurance policy or investment, are paid out.

Depreciation Expense

The distribution of a physical asset's expense over its lifespan, mirroring its decrease in worth as time progresses.

Estimated Depreciation

A projected amount of depreciation expense for an asset, reflecting its anticipated decline in value over a specified period due to wear and tear or obsolescence.