The AICPA's Trust Services Criteria Practice That States a Company

question 74

Multiple Choice

The AICPA's Trust Services Criteria practice that states a company should have policies and practices to maintain the privacy of customer data is under the title of:

• A)Choice and consent
• B)Collection
• C)Use and retention
• D)Notice

Understand the accounting treatment for cash discounts under both the net and gross methods within the voucher system.

Identify the proper filing and documentation procedures for vouchers.

Analyze the impact of the voucher system on internal control and cash management.

Record journal entries for transactions using the voucher system, including payments and purchases.

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Definitions:

Departing Employees

Refers to the employees who are leaving an organization, either voluntarily or involuntarily, and the processes involved in their exit.

Job Recruits

Individuals who have been selected or are in the process of being hired to fill positions within an organization.

Television Advertisements

Visual and audio marketing messages broadcasted on television to promote products, services, or ideas to a wide audience.

National Focus

A strategic prioritization by a country on specific areas of development or sectors.