When an Employee Is Terminated, IS Administrators Should Receive Advance

question 51

Multiple Choice

When an employee is terminated, IS administrators should receive advance notice so that they can ________.

• A) destroy the employee's records
• B) plan the recruitment of their positions
• C) disseminate information
• D) remove the user account and password
• E) clear the employee's browser history

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Definitions:

Earnings and Profits

A tax term referring to the net income of a company with adjustments for certain tax-related items; crucial for determining how distributions to shareholders are taxed.

FMV

Fair Market Value; the estimated price at which an asset would trade in a competitive auction setting.

Nontaxable Return

A financial return or distribution that is exempt from taxes, such as certain gifts or inheritances.

Fiscal Year-End

The end of a 12-month period used for accounting purposes and preparing financial statements, not necessarily aligning with the calendar year.