Which Implementation Uses Both the Legacy System and New System

question 131

Multiple Choice

Which implementation uses both the legacy system and new system until all users verify that the new system functions correctly?

• A) Parallel implementation
• B) Plunge implementation
• C) Pilot implementation
• D) Phased implementation

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Definitions:

Adjustment

An entry made in the accounts to correct an error or account for a transaction not recorded in the regular accounting period.

Available-for-sale Securities

Financial assets that are bought with the intention of selling before their maturity date, but not classified as held-for-trading or held-to-maturity investments.

Stockholders' Equity

It represents the ownership interest of shareholders in the assets of a company, after deducting liabilities.

Income Statement

A financial statement that shows a company's revenue, expenses, and profits over a specific period of time.