During Systems Implementation, "Converting Computer Files" Is Only Necessary If

question 87

True/False

During systems implementation, "converting computer files" is only necessary if the files are currently in manual formats.

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Definitions:

Accounting Equation

The fundamental principle of accounting that represents the relationship between an entity's assets, liabilities, and equity (Assets = Liabilities + Equity).

Liabilities

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

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, essentially representing the ownership interest held by shareholders.

Increase Assets

Actions or transactions that cause a rise in the total value of a company's assets.