COTS Stands for Commercial Off-The-Shelf and Refers to Software Packages

question 28

True/False

COTS stands for commercial off-the-shelf and refers to software packages that are purchased.

---

Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Consignment

A sales arrangement in which goods are placed in the care of another, but ownership and title remain with the supplier until the goods are sold.

Net Income

The amount of earnings after all expenses and taxes have been deducted from revenue.

Ending Inventory

The cumulative worth of merchandise ready for purchase at the closure of a financial period.