Identify the Choice That Best Completes the Statement or Answers

question 7

Multiple Choice

Identify the choice that best completes the statement or answers the question.
-Whenever a device has become obsolete, the Security Office must

• A)check the item off the list of equipment to maintain in the facility.
• B)verify that the facility does not need the equipment any more before selling it.
• C)log the date of disposal and the amount of its depreciation.
• D)record when and how it is disposed of and that all data was deleted from the device.

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Definitions:

Business Property

Assets and property owned by a business used in the operation and function of the business, including real estate, equipment, and intellectual property.

Casualty

A sudden, unexpected, or unusual event that causes damage or loss, often used in reference to natural disasters for tax deduction purposes.

Self-Employment Tax

This is a charge including Social Security and Medicare dues, principally aimed at those working independently.

Form 1040

Form 1040 is the U.S. federal income tax form used by individuals to file their annual income tax returns with the Internal Revenue Service (IRS).