Describe Cloud Computing

question 35

Essay

Describe cloud computing.

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Definitions:

Net Loss

The result when a company's total expenses exceed its total revenues during an accounting period, indicating a decrease in owner's equity.

End-of-period Spreadsheet

A financial document summarizing a company's financial data at the end of an accounting period, including assets, liabilities, and equity.

Income Statement

The income statement is a financial document that shows a company's revenues, expenses, and net income over a specific period.

Statement of Owner's Equity

A financial statement that outlines the changes in the equity of a company or individual over a specific period, detailing contributions, withdrawals, and the overall profit or loss.