In Most Organizations, ____ IT Department Effort Goes into Supporting

question 37

Multiple Choice

In most organizations, ____ IT department effort goes into supporting existing systems and making them more valuable to users.

• A)no
• B)less than half of all
• C)more than half of all
• D)all

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Definitions:

Percentage Of Completion

An accounting method used to recognize revenue and expenses of long-term contracts proportionally as the contract progresses toward completion.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total sales revenue.

Inventory

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or in the rendering of services.

Long-Term Construction

A method in accounting that recognizes the revenues and expenses of long-term construction projects as progress is made on the project.