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ACES Is a Quality Auditing Firm

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ACES is a quality auditing firm. It has dedicated a team of managers, business analysts, and systems analysts to develop an information system that receives data and produces quarterly reports that grade companies on their quality rating. The team is using the five-phase systems development life cycle (SDLC) to develop this information system. During which of the following phases will the team identify what kind of reports need to be produced and how frequently?


Definitions:

Availability Delay

The lag time between when a deposit is made in a bank account and when the funds are available for use.

Bank Releases

Legal documents indicating that a bank has released its claim on assets, typically after a loan has been paid off.

Collection Time

The typical duration a company waits to collect payments from its clients following a sale.

Lockbox System

A service offered by banks to process payments quickly by having those payments mailed directly to a secure post-office box, from which the bank collects and deposits into the company's account.

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