During the Output Function of a Computer System,the Result Is

question 55

True/False

During the output function of a computer system,the result is transferred to customers,clients,and other systems.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is used internationally.

U.S.GAAP

United States Generally Accepted Accounting Principles, which is a framework of accounting standards, principles, and procedures used in the U.S.

Fair Value

An estimate of the market value of an asset or liability based on current market prices or valuations of similar transactions.

Long-Term Construction Projects

Large scale construction endeavors that span over a long period, often requiring special accounting methods like the percentage-of-completion method for revenue recognition.