Place an "X" in the Appropriate Column for Each of the Following

question 56

Essay

Place an "X" in the appropriate column for each of the following statements about WebTrust and SysTrust. $\begin{array}{|l|l|l|} \hline&\text { Not } \\& \text { True } &\text { true } \\\hline\text { a. Clients' confidentiality needs can be addressed by both } \\\text { systems. }\\\hline\text { b. E-business systems in all publicly-traded corporations}\\ \text { must incorporate WebTrust.}\\\hline\text { c. E-commerce systems are the main focus of SysTrust.}\\\hline\text { d. Online privacy recommendations come primarily from}\\ \text { WebTrust.}\\ \hline\text { e. Only licensed CPAs can understand the principles}\\ \text {associated with WebTrust and SysTrust.}\\\hline\text { f. Processing integrity needs are part of SysTrust.}\\\hline\text { g. The two systems focus on the same set of issues.}\\\hline\text {h. WebTrust addresses all three elements of the CIA triad.}\\\hline\text {i. WebTrust and SysTrust are based on a common set of }\\\text {principles and criteria.}\\\hline\text {j. WebTrust and SysTrust are forms of internal control.}\\\hline\end{array}$

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Definitions:

Consignment

A business arrangement where goods are left in the possession of another party to sell, but ownership remains with the supplier until sold.

F.O.B. Destination

Seller pays or is responsible for the cost of freight to purchaser’s location or destination.

FIFO Method

First-In, First-Out method, an inventory valuation method where the first items purchased are the first ones sold, used in calculating cost of goods sold.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.