Your Transcription System Is Set Up to Back Up Your

question 1177

Multiple Choice

Your transcription system is set up to back up your hard drive every 5 minutes. The backup is on the hard drive of another computer. This computer is located in the room next door to the primary computer. What should be done to improve the backup process?

• A) Place the backup on an optical disk.
• B) Back up on a daily basis.
• C) Back up on a diskette.
• D) Move backup computer to an office 100 miles away.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements globally.

Losses Disclosure

The requirement for companies to provide detailed reports of financial losses within their financial statements, enhancing transparency.

Reasonably Possible

Refers to a situation or outcome that is within the realm of likelihood, though not certain, based on current knowledge and circumstances.

Probable Loss

An anticipated financial loss that has a greater than 50% chance of occurring, often recognized in financial statements in accordance with accounting principles.