Developing a New Financial Software Tool That Can Be Sold

question 27

Multiple Choice

Developing a new financial software tool that can be sold to other organisations is an example of production in the:

• A) primary sector, or agrarian economy.
• B) tertiary sector, or service economy.
• C) secondary sector, or industrial/manufacturing economy.
• D) quaternary sector, or knowledge economy.
• E) global economy.

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Definitions:

Interest Rates

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Analyst

A professional who studies various financial data and information to make investment recommendations or forecast financial trends.

Financial Statements

Formal records that outline the financial activities and position of a business, person, or entity.

Full Disclosure Principle

An accounting principle that requires companies to provide all necessary information in their financial statements that could affect the understanding of those statements.