Unauthorised Access to a Company's Data Can Occur When

question 8

Multiple Choice

Unauthorised access to a company's data can occur when:

• A)Inadequate backups of data are maintained.
• B)Computer programs are tested thoroughly.
• C)There are poor password protection procedures.
• D)There are sufficient security procedures.

Comprehend the steps of the accounting cycle, starting from transaction analysis to the preparation of financial statements.

Identify and apply the concepts of fiscal and calendar years in accounting periods.

Recognize and create basic journal entries for various business transactions.

Understand the role of the general journal as the book of original entry.

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Definitions:

Monopolistically Competitive

A scenario where numerous companies compete in the same industry by offering slightly unique products or services, giving consumers choices.

Elastic

Describes a situation in economics where the quantity demanded or supplied of a good changes significantly as its price changes.

Industry Entry

The process by which a new competitor enters an existing market, often influenced by barriers to entry and initial costs.

Price Elasticity

A measure of how much the demand for a product changes in response to a change in price, indicating the sensitivity of consumers to price changes.