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Critical Thinking Questions Case 5-1 One form of software theft is the theft of the software from software manufacturers, which is known as piracy. Because this has historically been rather easy to do, the practice has become very common. As a computer instructor you feel it is your responsibility to explain this practice to students through the use of some examples. Which of the following practice IS permissible under a single-user license agreement?
Noncash Assets
Assets that are not in the form of cash or cash equivalents, including property, equipment, and intellectual property.
Net Income and Losses
The difference between total revenues and total expenses, indicating the financial performance of a company over a specific period.
Sale
A transaction between two parties where the ownership of goods, services, or assets is transferred from the seller to the buyer for an agreed amount of money or value.
Journal Entry
A record in the books of accounts that represents a business transaction and its effects on the company's finances.
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