When Using a Cloud Back-Up Service to Store Materials Offsite

question 8

Multiple Choice

When using a cloud back-up service to store materials offsite, it is important to:

• A)Check on the materials daily
• B)Save the file under several different names
• C)Make sure the cloud service offers adequate security
• D)All of these choices are correct

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Definitions:

Ultimate Pension Payments

The total amount of pension payments that will be made to an employee under a defined benefit pension plan over the course of their retirement.

Service Cost

The actuarial present value of benefits earned by employees in the current period under a defined benefit plan, included in pension expense.

Interest Cost

The cost incurred by an entity for borrowing funds, typically reflected as an expense in the income statement.

Pension Expense

The annual cost recognized by an employer for maintaining a retirement plan for its employees.