Transferring Data from a Legacy System to the New System

question 26

Multiple Choice

Transferring data from a legacy system to the new system would be defined by which category of system design specifications?

• A) input
• B) database
• C) manual procedures
• D) conversion

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Definitions:

Contractual Rights

Rights granted to an individual or entity based on the terms of a contract.

Derecognition

The process of removing a financial asset or liability from a company's financial statements, usually because it has been sold, repaid, or no longer meets the criteria for recognition.

Financial Liability

An obligation to transfer cash or other resources as a result of past transactions or events.

Contractual Obligation

A contractual obligation is a duty or responsibility that one party is legally bound to perform under a contract agreement with another party.