Wassim Masood Has Been the Webmaster for Woori Finance Only

question 7

Multiple Choice

Wassim Masood has been the webmaster for Woori Finance only ten days when he received an e-mail that threatened to shut down Woori's website unless Wassim wired payment to an account in South America.Wassim was concerned that Woori Finance would suffer huge losses if its website went down,so he wired money to the appropriate account.The author of the e-mail successfully committed

• A) a denial-of-service attack.
• B) Internet terrorism.
• C) hacking.
• D) cyber-extortion.

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Definitions:

Prepaid Rent

A payment made for rent before it is due, recorded as an asset on the balance sheet and expensed over the period of use.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Prepaid Insurance

The portion of an insurance premium that has been paid in advance and is recognized as an asset until it is used.

Accrued Salaries

Salaries that have been incurred but not yet paid, representing an expense for the company and a liability until the payment is made.