It Is the Duty of the __________ to Insure That

question 37

Multiple Choice

It is the duty of the __________ to insure that information systems, technology, and other critical activities are effectively governed.

• A) IT function
• B) Board of Directors BO
• C) End users
• D) HR function

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Definitions:

Effective Tax Rate

The average rate at which an individual or a corporation is taxed, calculated by dividing the total amount of taxes paid by the taxable income.

Temporary Difference

A difference that arises between the tax base of an asset or liability and its carrying amount in the financial statements, which will result in taxable or deductible amounts in future years.

Deferred Tax Liability

A tax obligation that arises when taxable income is delayed or postponed to future periods, reflecting taxes that are expected to be paid in the future.

Accrual Method

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when the cash is received or paid.