The IS function with the principal responsibilities of ensuring the security of all IT resources is data control.
Indicate whether the statement is true or false
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Q. 2) XYZ Company owns an asset with historical cost of 75,000, estimated useful life of 10 years, and salvage value of 5,000. As of December 31, 2011, the asset has accumulated depreciation of 49,000 after adjustment.
The company still owes 20,000 in liabilities from the purchase of the asset years ago. What is the asset's book value on December 31, 2011?
A) 70,000
B) 26,000
C) 21,000
D) 6,000
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Q. 3) Compensation for managerial or administrative services is called ____________________.
Fill in the blank(s) with correct word
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Q. 4) Beau Brentley earned 60,000 in 2011 from his job at Bridgestone Tires. He had 15 of his gross pay withheld for federal income taxes, 6.2 withheld for FICA Social Security taxes, and 1.45 withheld for Medicare taxes.
What amount will Bridgestone Tires report as salary expense for 2011?
A) 60,000
B) 64,590
C) 46,410
D) 69,160
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Q. 5) Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for thesale of May 20 using the FIFO inventory cost method.
a. 120
b. 180
c. 136
d. 144
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Q. 6) The IS function with the responsibility of guiding the IT organization in establishing and meeting user information requirements is the IT steering committee.
Indicate whether the statement is true or false
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