What Is the Best Way to Understand the Location, Use

question 15

Multiple Choice

What is the best way to understand the location, use and importance of personal data within an organization?

• A) By analyzing the data inventory.
• B) By testing the security of data systems.
• C) By evaluating methods for collecting data.
• D) By interviewing employees tasked with data entry.

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Definitions:

Deferred Income Tax

Deferred Income Tax is a liability on a company's balance sheet that results from income already earned and recognized for accounting purposes but not yet subject to taxation.

Fair Value

The estimated market price of an asset or liability, reflecting what a willing buyer would pay to a willing seller in an arm's length transaction.

Tax Rate

The proportion of income that is taken as tax from a person or business.

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its net assets, representing future economic benefits.