The Existence of Accounts That Are No Longer in Use

question 119

True/False

The existence of accounts that are no longer in use are not a security threat to an organization.

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Definitions:

Depreciation Expense

The allocated portion of an asset's cost expensed each year over its useful life to account for its wear and tear, obsolescence, or decline in value.

End-Of-Period Spreadsheet

A tool used in accounting to compile all balances and adjustments of an accounting period before preparing the final financial statements.

Retained Earnings

The portion of net income that is held by a company and not distributed to shareholders as dividends, used for investment or debt repayment.

Revenues

The complete earnings derived from transactions involving goods or services that are fundamental to an organization's core functions.