Which of the Following Is a General Control That Would

question 31

Multiple Choice

Which of the following is a general control that would most likely assist an organization whose systems analyst resigned during the development of a major project?

• A)Grandfather-father-son file retention.
• B)Input and output validation routines.
• C)Systems documentation.
• D)Check digit verification.

Recognize the legal consequences of misleading or false advertising under the Competition Act.

Identify and comprehend the role and actions of the Competition Tribunal.

Understand the application and enforcement of the Competition Act across different jurisdictions in Canada.

Assess the legality and implications of agreements in restraint of trade.

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Definitions:

Financial Leases

Long-term leases that effectively transfer the risks and rewards of ownership from the lessor to the lessee, almost like a loan arrangement.

Amortized

Refers to the process of gradually writing off the initial cost of an asset over a period.

Capitalized

Expenses or costs that are recorded as an asset on a balance sheet rather than an expense, to be amortized or depreciated over time.

Financial Lease

A financial lease is a lease agreement where the lessee assumes both the ownership risks and rewards of the leased asset, typically for its useful life.