The Cost Feasibility of a Systems Development Project Depends on the Scope

question 22

True/False

The cost feasibility of a systems development project depends on the scope of the project.

Recognize the importance and impact of ethics and social responsibility in accounting and business operations.

Identify and distinguish between the various types of business activities: operating, investing, and financing.

Learn the definitions and roles of assets, liabilities, equity, revenues, and expenses in the accounting equation.

Understand the principles guiding the recording of transactions, including the cost principle and the matching principle.

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Definitions:

Res Ipsa Loquitur

A legal doctrine that suggests negligence is inferred from the very nature of an accident or injury, in the absence of direct evidence.

Burden Of Proof

The duty of the plaintiff or prosecution to establish a claim or allegation by admissible evidence and to prove that the defendant committed all the essential elements of the crime to the jury’s or court’s satisfaction beyond any reasonable doubt, in order to convict the defendant.

Punitive Damages

Financial compensation awarded to a plaintiff that goes beyond what is necessary to compensate for losses and is intended to punish the defendant for egregious wrongdoing.

Outrageous

Behavior or actions that are shocking because they are so wrong, unusual, or out of the ordinary.