Companies Either Hire Outside Programmers to Write ____ Software or Use

question 47

Multiple Choice

Companies either hire outside programmers to write ____ software or use their own internal developers.

• A) packaged
• B) embedded
• C) adaptive
• D) custom

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Definitions:

Retail Inventory Method

An accounting method used to estimate the ending inventory balance of a retail store by applying a cost-to-retail price ratio to the sales for the period.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position, including assets, liabilities, and shareholders' equity at a specific point in time.

Gross Profit Method

An inventory estimation technique that uses the historical gross profit margin to estimate the cost of goods sold and ending inventory.

Physically Counting

The manual process of counting inventory items one by one to verify the quantity on hand.