The ____________Costing Technique Looks Beyond the Initial Capital Investment of an IT

question 61

Short Answer

The ____________costing technique looks beyond the initial capital investment of an IT solution and includes costs associated with technical support, administration, training, and system retirement.

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Definitions:

Voucher Journal

A record that details every financial transaction of a business, paired with the documentation that supports the transaction as a part of the accounting system.

Voucher System

A control mechanism in accounting that ensures all purchases and expenditures are properly authorized before payment is made.

Petty Cash Fund

A small amount of cash kept on hand for minor or incidental expenses.

Voucher System

A control mechanism in accounting that involves authorization and documentation before a financial transaction is made.