Although Cloud Computing Is a Technology That FIs Can Provide

question 83

True/False

Although cloud computing is a technology that FIs can provide to business clients,the FI itself seldom uses cloud computing in their own operations.

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Definitions:

Owner's Drawings

The amount of money taken out of a business by its owner for personal use.

Revenues

Revenues are the total amounts of money earned by a company from its business activities, before any expenses are deducted.

Expenses

Costs incurred in the process of generating revenue, including operating costs, utilities, and salaries.

Recording Process

The systematic procedure of capturing and documenting financial transactions and events in the accounting records.