Which of the Following Statements Is True About the Changes

question 19

Multiple Choice

Which of the following statements is true about the changes and developments foreseen by the year 2024?

• A) Licensed, off-the-shelf software will become less configurable, less adaptable, and less flexible.
• B) Most organizations will move their internal hardware infrastructure into the cloud.
• C) SDLC will be typically used for systems development.
• D) Small computing devices will lose their popularity and become more expensive.

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Definitions:

Perpetual Inventory System

An accounting approach that continuously tracks inventory levels and costs, updating the general ledger after each receipt or sale of goods.

FIFO

"First In, First Out," an inventory valuation method where goods purchased or produced first are the first ones to be sold or used.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the cost of goods sold.

Periodic Inventory System

A periodic inventory system is a method of inventory valuation in which inventory is physically counted at the end of a specific period to determine the cost of goods sold and ending inventory.