Explain How Privacy and Security Are Related and Give Two

question 43

Essay

Explain how privacy and security are related and give two examples of federal requirements for keeping data private.

Comprehend the ethical handling of sensitive financial information.

Understand the various methods of business valuation.

Recognize the significance of tangible and intangible assets in business transactions.

Understand the differences between tangible and intangible assets.

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Definitions:

Jacuzzi

A brand name often used generically to refer to any hot tub or whirlpool bath with underwater jets that massage the body.

Adjusted Gross Income

Adjusted Gross Income, or AGI, is an individual's total gross income minus specific deductions, used to determine taxable income on an income tax return.

Casualty Loss Deduction

A tax deduction allowed for losses from sudden, unexpected, or unusual events, such as natural disasters, fire, or theft, not compensated by insurance.

Insurance Settlement

A payment made by an insurance company to a policyholder following a claim for loss or damage covered by the policy.