Three major concerns of system builders and users are disaster, security, and human error. Of the three, which do you think is most difficult to deal with? Why?
What will be an ideal response?
Student answers will vary. Example answers are: Disaster might be the most difficult because it is unexpected, broad-based, and frequently life threatening. In addition, the company cannot know if the disaster plan will work until a disaster occurs, and then it's too late to make corrections. Security might be the most difficult because it is an ongoing problem, new viruses are devised constantly, and hackers get smarter every day. Furthermore, damage done by a trusted employee from inside cannot be obviated by system security measures. Human error might be most difficult because it isn't caught until too late, and the consequences may be disastrous. Also, administrative error can occur at any level and through any operation or procedure in the company.
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In the liquidity-preference model, an increase in prices causes
A. both the nominal interest rate and the equilibrium quantity of money to decrease. B. the nominal interest rate to increase and the equilibrium quantity of money to remain unchanged. C. the nominal interest rate to decrease and the equilibrium quantity of money to remain unchanged. D. both the nominal interest rate and the equilibrium quantity of money to increase.
Which of the following statements best describes a subsequent event?
a. A subsequent event affects only subsequent reporting periods. b. A subsequent event is, in some cases, reflected in the statements of the preceding period. c. A subsequent event may occur any time after financial statements are issued. d. A subsequent event is not covered by the independent auditor's report.
Global trademark protection follows the Office of Harmonization in the Internal Market approach.
Answer the following statement true (T) or false (F)
Unusual behaviors often exhibited by fraud perpetrators include:
a. belligerence in stating opinions. b. high levels of relaxation. c. high levels of eye contact. d. low levels of drinking and smoking.