Which of the Following Is a Disadvantage of Purchased Accounting

question 77

Multiple Choice

Which of the following is a disadvantage of purchased accounting software, compared with software developed in-house?

• A)It is custom designed for that company.
• B)It is less costly.
• C)The implementation time is shorter.
• D)There are fewer bugs.

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Definitions:

Apparent Authority

The situation in which an agent's actions lead a third party to reasonably believe that the agent has the authority to act on behalf of the principal.

Wholesale Jeweler

A wholesale jeweler is a business entity that sells jewelry in large quantities, usually to retailers rather than directly to the public.

Retail Jewelry Store

A business establishment that specializes in selling jewelry and related accessories directly to consumers.

Personally Bound

Being legally obligated on an individual basis, usually in terms of contractual or financial responsibilities.