The Accompanying Figure Shows an Example of _____ Software

question 26

Multiple Choice

The accompanying figure shows an example of _____ software.

• A) paint
• B) presentation
• C) publishing
• D) database

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Definitions:

GAAP

Generally Accepted Accounting Principles represent the customary set of rules for financial accounting that are utilized in a particular jurisdiction.

Principles-based Approach

A method of regulation that emphasizes the spirit of the laws and principles behind them, rather than rigid adherence to specific rules.

Lease Capitalization

The process of recording a lease as an asset and a corresponding liability on the lessee's balance sheet, particularly for long-term leases.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is used globally to prepare public company financial statements.