An Example of Where an Entity Has a Present Obligation

question 8

Multiple Choice

An example of where an entity has a present obligation is:

• A) a public announcement made by an entity's management to undertake restructuring.
• B) a recommendation from the HR manager to the Board as to the level of bonuses to be paid at year end.
• C) a historical pattern of performing a major overhaul of machinery every two years.
• D) the declaration of a dividend by directors which is required to be ratified at a meeting of shareholders

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Definitions:

Privacy Invasion

The violation or breach of someone's right to keep their personal information confidential and control its use.

Provincial Privacy Legislation

Laws enacted at the provincial level in some countries to protect personal information from unauthorized use, collection, or disclosure by private and public bodies.

Written Privacy Policy

A documented statement that outlines how an organization collects, uses, discloses, and manages a customer or client's data to protect their privacy.

Remedies

Legal means for enforcing a right or compensating for a violation, including damages, injunctions, and specific performance.