Economics · Cloud Accounting

Which one of the following provides the best definition of cloud accounting?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Cloud accounting is an accounting system which can be used only by persons with an advanced degree in computer science.
2Cloud accounting is an accounting system that enables access to accounting software and data storage hosted on remote servers over the internet.✓
3Cloud accounting is an accounting system that enables employees to work exclusively from home.
4Cloud accounting is any computerized accounting system used locally within an office.

Correct answer

Cloud accounting is an accounting system that enables access to accounting software and data storage hosted on remote servers over the internet.

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