It Is Important for a Business Manager You to Realize

question 107

True/False

It is important for a business manager you to realize that commercial -off -the -shelf (COTS)software will never fit organizational requirements exactly.

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Definitions:

Liabilities

Financial obligations or debts that an entity owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Debits

Entries in accounting that represent an increase in assets and expenses or a decrease in liabilities, equity, and revenue.

Credits

Represents the amount of money or value added to an account or available for purchase on credit.

Accounting Period

A specific period of time used by businesses for accounting purposes to prepare financial statements, commonly a year or a quarter.