Which of the Following Are Cost Elements of Maintenance

question 53

Multiple Choice

Which of the following are cost elements of maintenance?

• A)defects
• B)documentation
• C)personnel
• D)all of the above

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Definitions:

Accounting Record

Documentation and books that record all financial transactions of a business, essential for preparing financial statements and tracking financial performance.

Double-Entry Accounting

A bookkeeping system that requires every financial transaction to be recorded in at least two accounts, ensuring the accounting equation is always balanced.

Debit

A financial record that leads to a rise in assets or a fall in liabilities in a corporation's balance sheet.

Credit

An accounting entry recording a decrease in assets or increase in liabilities and equity, or a transaction where goods or services are received with a promise of future payment.