The Program Development Cycle Guides Information Technology (IT) Professionals Through

question 59

True/False

The program development cycle guides information technology (IT) professionals through the development of an information system.

---

Definitions:

Management Manipulation

The unethical practice of altering financial data or reports to distort a company’s financial health or performance.

Asset Impairments

A reduction in the book value of an asset when its market value falls below its carrying amount on the balance sheet.

Fair Value

The estimated market price of an asset or liability based on current conditions and mutually informed buyer and seller transactions.

Construction in Progress Account

An account in the balance sheet that accumulates costs related to the construction of a long-term asset until the asset is ready for use, at which point the total cost is transferred to the fixed assets account.