What Is Identity Theft

question 176

Multiple Choice

What is identity theft?

• A) Is the forging of someone's identity for the purpose of fraud
• B) Is monitoring emails
• C) Is hacking in a computer system with the purpose of stealing information
• D) Is buying illegal information from a hacker

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Definitions:

Prepaid Expenses

Expenses paid in advance for goods or services to be received in the future, often recorded as assets on the balance sheet.

Current Liabilities

Short-term financial obligations that are due to be paid within one year or within the normal operating cycle of a business.

Acid-Test Ratio

A liquidity ratio, also known as the quick ratio, that measures a company's ability to pay off its current liabilities with its quick assets (cash, marketable securities, and accounts receivable).

Stockholders' Equity

The remaining value of a corporation's assets once liabilities are subtracted, which signifies the share of ownership held by the shareholders.