Which of the following best describes depreciation?

• A.It is a process of allocating cost of assets between periods.
• B.It is a process of measuring decline in the value of assets because of obsolescence
• C.It is a process of assets valuation.
• D.It is a process of accumulating adequate funds to replace assets.

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The required adjusting entry at December 31 related to salaries and wages is

• A.Salaries & wages expense US $1,700 Income summary US $1,700
• B.Salaries & wages payable US $1,700 Salaries & wages expense US $1,700
• C.Salaries & wages expense US $1,700 Salaries & wages payable US $1,700
• D.Income summary US $1,700 Salaries & wages payable US $1,700

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Which of the following statements is true regarding the management-by-objectives method?

• A.Management by objectives helps organizations to distinguish clearly strategic goals from operational goals.
• B.Management by objectives is most helpful in organizations that have rapid changes.
• C.Management by objectives helps organizations to keep employees motivated.
• D.Management by objectives is most helpful in mechanistic organizations with rigidly defined tasks.

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Which of the following local area network physical layouts is subject to the greatest risk of failure if one device fails?

• A.Star network.
• B.Mesh network.
• C.Token ring network.
• D.Bus network.

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During an audit of the payroll system, the internal auditor identifies and documents the following condition:
"Once a user is logged into the system, the user has access to all functionality within the system." What is the most likely root cause for tins issue?

• A.The system authorization of the user does not correctly reflect the access rights intended.
• B.There was no periodic review to validate access rights.
• C.The authentication process relies on a simple password only, which is a weak method of authorization.
• D.The application owner apparently did not approve the access request during the provisioning process.

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