This Phase of the Systems Design for In-House Development of Software

question 2

Multiple Choice

This phase of the systems design for in-house development of software involves the identifying the alternative approaches to systems that will meet the needs identified in the system analysis phase.

• A)Request for proposal
• B)Conceptual design
• C)Systems concept
• D)Systems analysis

Identify and calculate key financial ratios like average collection period and receivables turnover ratio.

Analyze the effects of cash collections and sales discounts on financial statements.

Perform bank reconciliations and understand their importance for internal control over cash.

Calculate net realizable value of receivables and understand its significance in financial reporting.

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Definitions:

U.S. Dollar Equivalent

The value of a foreign currency transaction converted into U.S. dollars at the current exchange rate.

Forward Contract

A financial agreement to buy or sell a specific asset at a predetermined price at a set time in the future.

Fair Value Hedge

A financial strategy used to offset the risk of changes in the fair value of a recognized asset or liability or an unrecognized firm commitment.

Rupee

The official currency of India, also used in other South Asian countries but may differ in value.