Define the Following Five Categories of Software: Packaged, Custom, Web

question 100

Essay

Define the following five categories of software: packaged, custom, Web application, open source, and shareware.

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Definitions:

Equity Changes

Refers to the alterations in the owners' equity over a specific period due to net income, dividend payments, and capital injections.

Compound Entry

An accounting entry that involves multiple debits and/or credits in a single journal entry, typically used when a transaction affects more than two accounts.

Income Statement

A financial statement that provides a summary of a company's revenues, expenses, and profits or losses over a specific period of time.

Revenues

Aggregate income produced from the core activities of a business, mainly through the sale of goods and services.