_____ Computing Is the Provision of IT Services on Demand

question 53

Short Answer

_____ computing is the provision of IT services on demand.

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Definitions:

Drawings

The funds withdrawn by the owner of a sole proprietorship or partnership from the business for personal use.

Beginning Capital

The amount of capital at the start of a period before any transactions have occurred within the period.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, often referred to as the owner's claim against the assets.

Total Liabilities

The sum of all financial obligations a company owes to outside parties.