CPY Corporation Replaces One Third of Its Computers Every Year;

question 13

Multiple Choice

CPY Corporation replaces one third of its computers every year; SLP Corporation replaces its computers when employees submit a request, but no more frequently than once every four years.Which of the following statements is most true?

• A)CPY's replacement policy does a better job safeguarding assets.
• B)SLP's replacement policy does a better job safeguarding assets.
• C)Neither replacement schedule helps achieve the internal control purpose of safeguarding assets, but replacing a computer may help promote operating efficiency.
• D)Neither replacement schedule helps achieve the internal control purpose of safeguarding assets because information is not an asset reported on the balance sheet.

Understand the legal regulations concerning advertising claims and consumer protection.

Recognize the shift in regulatory focus from contamination response to prevention in food safety.

Know the conditions under which a product can be considered unsafe and the government's response.

Understand the importance of truthfulness in credit and financial services, including the rights of debt collectors.

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Definitions:

Company's Reputation

The collective perception held by stakeholders about a company's integrity, quality, reliability, and customer interactions.

Short-Term Profits

Earnings realized over a quick period, often prioritized at the expense of long-term strategic goals or investments.

Variable Costs

Expenses that vary directly with the level of production or output, such as materials and labor.

Sustainable Practice

Approaches and activities that seek to balance environmental, social, and economic factors to meet present needs without compromising future generations.