You Got Careless and Left Your Laptop in a Taxi

question 23

Multiple Choice

You got careless and left your laptop in a taxi back from the airport. However, you aren't too worried about your information. Which of the following should not be a reason for your attitude?

• A)You back up all your files every Monday night.
• B)You encrypt all of your personal information.
• C)Your operating system requires a password at start-up.
• D)You have trace software on your laptop.
• E)You named the file that contains your list of passwords BirthdaysToRemember.

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Definitions:

Historical Cost

Historical cost refers to the original monetary value of an asset or expenditure recorded at the time of transaction, without adjusting for inflation or changes in market value.

Fair Value Measurements

An accounting standard for estimating the price at which an asset or liability could be exchanged in an orderly transaction between market participants at the measurement date.

Mark-to-Model

An accounting practice where the price or value of an asset is determined based on a financial model instead of current market prices.

Fair Value Accounting

An accounting approach where assets and liabilities are recorded at their current market value, rather than their historical cost.