Process Models Are Only Used to Document the Current System

question 4

True/False

Process models are only used to document the current system (that is,the "as-is" system),since that is the system the users know and is the system that will be modified.

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Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities, representing the owners' share of the company's resources.

Liabilities

Financial obligations or debts that a company or individual owes, which must be settled over time.

Balance Sheet

A statement presenting a company’s financial standing, including details on assets, liabilities, and equity held by shareholders, at a particular point in time.

Total Assets

Total assets represent the sum of all resources owned by a company, valued in monetary terms, and listed on its balance sheet, including both current and non-current assets.