A Disaster Recovery Plan Is Developed for Restoring the IT

question 35

True/False

A disaster recovery plan is developed for restoring the IT functions and services to their former state.

---

Definitions:

Sundry Assets

Miscellaneous assets on a company’s balance sheet that do not neatly fit into other asset categories, often of minor value.

Sundry Liabilities

Generally refers to a category of various minor or infrequent liabilities that a company might incur, which are too small or irregular to warrant individual classification.

One-Line Method

An accounting method used in consolidated financial statements where the investment in a subsidiary is presented as a single line item, reflecting the net assets of the subsidiary.

AASB 11

is an accounting standard that deals with the financial reporting of interests in joint arrangements.