True or False

TRUE/FALSE. Write T if the statement is true and F if the statement is false. 1) Electronic commerce (e-commerce) is popular with consumers but has hurt productivity. 2) Hypertext transfer protocol (HTTP) is a basic communications protocol used to receive e-mail. 3) Hardware consists of programs that tell a computer how to function. 4) The application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information is called data warehousing. 5) Intellectual property is something produced by a computer that has personal value. 6) An audit examines whether a firm's financial statement conforms to generally accepted accounting principles. 7) Current assets are all assets that are able to be liquidated in a short amount of time. 8) Activity ratios allow investors to compare the relative efficiencies of similar companies. 9) The purpose of ethics in accounting is to maintain public confidence in business institutions, financial markets, and the products and services of the accounting profession. 10) The International Accounting Standards Board is the prominent international organization for global accounting standards. 11) Any object can serve as money if it is portable, divisible, durable, and stable. 12) Through the Federal Deposit Insurance Corporation, a deposit in a member bank is currently insured up to $50,000 13) Like most of the federal government, the govemors of the Federal Reserve System are democratically elected by the citizens of the United States. 14) Banks are subject to prosecution when they fail to maintain systems for identifying and reporting suspicious activities. 15) 15) Due to privacy issues, anti-terrorist policies enacted in the early 2000s have had few significant repercussions on banking practices