Which of the Following Should You Do to Help Protect

question 50

Multiple Choice

Which of the following should you do to help protect client confidentiality?

• A) Keep all identifiable information about clients off the covers of files.
• B) Never leave a file unattended for even a short time in a publicly accessible location such as a library table or courtroom.
• C) Do not allow outsiders access to firm computer systems or networks.
• D) Use only secure networks or encrypted communications systems for transmission of confidential information.
• E) All of these choices are correct.

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Definitions:

Predetermined Overhead Rate

This rate is calculated before a period begins and is used to allocate overhead costs to products based on a chosen activity base.

Gross Margin

The difference between sales revenue and the cost of goods sold, representing the fundamental profitability of the goods or services sold.

Manufacturing Overhead

All indirect costs associated with the production process, including utilities, maintenance, and salaries of production managers, not directly attributable to a specific product.

Work in Process

Inventory that includes items that are in the process of being manufactured but are not yet completed.