Refer to the Financial Statement Information for Digital Forces

question 97

Essay

Refer to the financial statement information for Digital Forces.
What portion of every dollar is available to cover operating costs and to contribute to profits for 2015?

Understand the concept and purpose of digital rights management.

Distinguish between copyrightable materials and non-copyrightable facts.

Identify and differentiate among the types of currencies, placing emphasis on cryptocurrencies.

Recognize the legal and academic implications of plagiarism.

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Definitions:

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

Accounting Records

The documentation of all the financial transactions and positions of a business, kept for the purpose of financial reporting and auditing.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid out.

Incurred Expenses

Costs that have been recognized or consumed in the operations of a business, regardless of the payment status.