Elasticity Is the NIST Defined Characteristic That Allows Resources to Be

question 20

True/False

Elasticity is the NIST defined characteristic that allows resources to be managed by the consumer and quickly scaled out to provide more capability or quickly scaled in to release unneeded capacity and costs.

Recognize ethical dilemmas auditors may encounter and understand the role GAAP plays in such dilemmas.

Analyze the considerations and issues surrounding the adoption of IFRS by the SEC.

Identify and understand different types of pronouncements issued by the FASB and their purposes.

Describe the FASB initiatives aimed at converging U.S. accounting standards with international standards.

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Definitions:

Express Authority

Authorization granted to an agent in clear, direct, and definite terms by the principal.

Implied Authority

Authority not expressly granted but assumed to be given due to the nature of a job or position.

Apparent Authority

A form of authority that an agent seems to have because of actions or representations made by the principal, leading third parties to reasonably believe the agent is authorized.

Contract

A legally binding agreement between two or more parties that creates mutual obligations enforceable by law.