The Approach to System Conversion Whereby a New System That

question 13

Multiple Choice

The approach to system conversion whereby a new system that is to be used in more than one business is first implemented in a single unit so that it may be tested and debugged before implementing it in the other business units is called

• A) plunge.
• B) pilot.
• C) phased.
• D) parallel.
• E) big-bang.

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Definitions:

Payment Interval

The periodicity of payments being made or received, for example, on a monthly, quarterly, or yearly basis.

Compounded Yearly

An interest calculation where the interest is added to the principal balance once a year, allowing the total amount to earn interest annually.

Economic Advantage

A benefit or gain in a financial context that gives an individual, company, or country a better position compared to others.

RRSP

Registered Retirement Savings Plan, a Canadian account for holding savings and investment assets, aimed at retirement planning with tax benefits.