Examlex
Match the following terms to the appropriate definitions.
-Software code that gives access to a program or a service that circumvents normal security protections.
Accrual Basis
An accounting method that records income when earned and expenses when incurred, regardless of when the cash is received or paid.
Average Annual Gross Receipts
An average of a business's total gross income over a specified period, often used to determine tax reporting requirements or eligibility for small business tax concessions.
Complete Liquidation
The process of closing a business by selling all assets, paying off creditors, and distributing the remaining assets to shareholders.
Capital Gain
The profit from the sale of an asset or investment exceeding its purchase price, which is subject to taxation.
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