Which of the Following Has the Least Versatility

question 135

Multiple Choice

Which of the following has the least versatility?

• A) database software
• B) custom software
• C) spreadsheet software
• D) dedicated software

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Definitions:

Income Taxes

Taxes imposed by governments on the income generated by individuals, corporations, and other entities, varying according to income level and type.

IFRS 1

The International Financial Reporting Standard that outlines the necessary steps for an entity to ensure its financial statements are IFRS-compliant for the first time.

First-Time Adopters

Entities that are implementing certain accounting standards for the first time in their financial reporting.

Reconciliations

The process of ensuring that two sets of records, usually the balances of two accounts, are in agreement.