Which of the Following Statements Is True

question 134

Multiple Choice

Which of the following statements is true?

• A) Management has a legal responsibility to protect an organization's informational assets.
• B) Proper protection of organizational information from unauthorized use required both physical and logical controls.
• C) The unauthorized disclosure of financial information is a violation of federal securities laws.
• D) All of the above.

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Definitions:

Cost Of Goods Sold

The immediate expenses directly related to creating a company's sold products, covering both labor and materials costs.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after all sales and purchases have been accounted for.

Accounting Period

A specific time frame for which financial statements are prepared, to measure the performance and financial position of a business.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue, indicating the company's financial performance over a specific period.