Match Each of the Following Terms with Its Corresponding Definition

question 166

Multiple Choice

Match each of the following terms with its corresponding definition.
-Running the old information system and the new one at the same time until management decides the old system can be turned off.

• A)acceptance testing
• B)alpha testing
• C)beta testing
• D)desk checking
• E)direct installation
• F)inspections
• G)installation
• H)integration testing
• I)parallel installation
• J)phased installation
• K)single location installation
• L)stub testing
• M)support

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Definitions:

Foreign Currency (FC)

Currency used in a transaction that is different from the currency of the primary economic environment in which the entity operates.

Historical Rate

The exchange rate at which a foreign currency transaction was converted to the reporting currency at the date of the transaction.

Closing Rate

The exchange rate at the balance sheet date, used for translating the financial statements of a foreign subsidiary into the parent company's reporting currency.

Spot Rate

The current market price at which a particular currency can be bought or sold for immediate delivery.