The Term "Cloud" Is Used to Refer to the Elastic

question 41

True/False

The term "cloud" is used to refer to the elastic leasing of pooled computer resources over the Internet.

---

Definitions:

Balance Sheet

A document detailing a firm's assets, liabilities, and owners' equity at a particular moment, offering an overview of its financial health.

Unearned Subscriptions

A liability account that represents payments received by a company for subscriptions that have not yet been earned because the service has not been provided.

Deferral

An accounting principle that postpones the recognition of an expense or revenue to a future accounting period.

Accrual

The accounting method that recognizes revenues and expenses when they are incurred, regardless of when cash is exchanged.