Information Technology (IT)consists of All the Hardware That a Firm

question 59

True/False

Information technology (IT)consists of all the hardware that a firm needs to use in order to achieve its business objectives,whereas information systems consist of all the software and business processes needed.

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Definitions:

Gain Or Loss

The financial result that occurs when the selling price of an asset differs from its original purchase price, where a higher selling price results in a gain and a lower selling price results in a loss.

Disposal

The process of getting rid of something, especially by throwing it away or by selling it.

Accumulated Depreciation

Accumulated depreciation is the total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value on the balance sheet.

Goodwill

An intangible asset that is created from such favorable factors as location, product quality, reputation, and managerial skill.