Whose Responsibility Is It to Determine the Amount of Time

question 32

Multiple Choice

Whose responsibility is it to determine the amount of time an organization can afford to be without its information system?

• A) the board of directors
• B) senior management
• C) external auditors
• D) COBIT

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Definitions:

Intangible Assets

Non-physical assets owned by a business, such as patents, copyrights, trademarks, and goodwill, that provide economic benefits.

Fixed Assets

Long-term tangible assets held for business use and not expected to be converted into cash in the short term, such as buildings, machinery, and vehicles.

Fixed Asset Account

An account on the balance sheet that reports the cost and accumulated depreciation of long-term tangible assets used in the operations of a business.

Accumulated Depreciation

The cumulative depreciation of an asset up to a single point in its life, reflecting its decrease in value over time.