Apps That Are Offered at No Cost for Basic Features

question 49

True/False

Apps that are offered at no cost for basic features but allow in-app purchases for premium features and functionality are call freemium apps.

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Definitions:

Liability

Legal obligations or debts that a business or individual is responsible for.

Liability

Liability refers to a company's legal financial debts or obligations that arise during the course of business operations.

Asset

An item of value owned by a person or company, regarded as having economic value and available to meet debts, commitments, or legacies.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership's claim on the company assets.