If an Organization Implemented Only One Policy, Which One Would

question 48

Multiple Choice

If an organization implemented only one policy, which one would it want to implement?

• A) Information privacy policy
• B) Acceptable use policy
• C) Internet use policy
• D) Ethical computer use policy

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Definitions:

Prepaid Rent Expense

An advance payment for rent that is recorded as an asset on the balance sheet until it is consumed or the rental period elapses.

Contra-Asset

An account that offsets an associated asset account on a company's balance sheet, like an allowance for doubtful accounts reducing accounts receivable.

Original Cost

The initial price paid to acquire an asset or service, not accounting for depreciation or adjustments.

Book Value

The residual amount that represents a company's assets minus its liabilities.