When a Business Has Its Own Programmers to Write Application

question 24

True/False

When a business has its own programmers to write application software, the software is called custom application software.

---

Definitions:

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.

Net Worth

The total value of an individual's or entity's assets minus liabilities, indicating financial health or status.

Financial Performance

An assessment of a company's ability to generate earnings as compared to its expenses and other relevant costs incurred during a specific period.

Income Statement

A financial statement that shows a company’s revenues, expenses, and profits over a particular period of time.