Define and Differentiate Between the Following: CD-ROM, CD-R, and CD-RW

question 73

Essay

Define and differentiate between the following: CD-ROM, CD-R, and CD-RW.

---

Definitions:

Retained Earnings

The portion of net income that is not distributed to shareholders but is instead reinvested in the business or kept as a reserve for certain purposes.

Completed Contract Method

A financial accounting approach where revenue and expenses of a contract are recorded only when the contract is fully completed.

Long-Term Construction

Projects or contracts that span over a long period, typically larger in scope and complexity which may impact financial reporting due to their duration.

Critical Event

An occurrence that significantly alters the current course of a business or project, potentially impacting financial outcomes or operational capabilities.