You've Been Asked to Give a Presentation on Cybercrime

question 78

Essay

You've been asked to give a presentation on cybercrime. List two steps that can help you define the main idea of your presentation, and then provide an example of the second step.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts in preparation for the new accounting period.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired, representing the wear and tear over time.

Service Revenue

Income earned by a company for the services it provides to its clients.

Adjusting Entries

Journal entries made at the end of an accounting period to update certain accounts and report revenues and expenses in the appropriate period.