A Description of the Current System Identifying Where Problems or Opportunities

question 15

True/False

A description of the current system identifying where problems or opportunities are with a general recommendation on how to fix,enhance,or replace the current system is a product of the design phase.

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Definitions:

Third Party

Someone other than the two principals in a transaction; when referring to checks, a type of check made out to the patient by another unknown person.

Credit Balance

The amount of money that a party has available for spending, which is credited to their account.

Cycle Billing

A billing practice where customers' bills are produced at different times during the month based on a predetermined schedule or cycle.

Collection Agency Transaction

The process or action where a business specializing in collecting debts manages or conducts a financial operation, usually the collection of overdue accounts.