A Systems Building Approach in Which the System Is Developed

question 23

Multiple Choice

A systems building approach in which the system is developed as successive versions, each version reflecting requirements more accurately, is described to be

• A) end-user oriented.
• B) iterative.
• C) object-oriented.
• D) agile.

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Definitions:

Net Income

The net income of a company, which is calculated by deducting all expenses, taxes, and costs from its total revenue.

Unrecorded Revenues

Earnings generated from business activities that have not yet been documented in the financial accounts.

Adjusting Process

A procedure in accounting to update ledger accounts for accruals, deferrals, prepayments, and estimates so financial statements are accurate.

Revenue Account

An accounting ledger that records the income generated from sales of goods or services.