Which Implementation Uses Both the Legacy System and New System

question 124

Multiple Choice

Which implementation uses both the legacy system and new system until all users verifies that the new system functions correctly?

• A) Parallel implementation
• B) Plunge implementation
• C) Pilot implementation
• D) Phased implementation

Understand accounting for merchandise transactions using the gross and net methods.

Calculate gross profit, net income, and understand their implications on financial performance.

Apply knowledge of periodic and perpetual inventory systems in accounting entries.

Understand and calculate discounts, including sales discounts and purchase discounts.

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Definitions:

Fixed Asset

A durable, physical asset that a company possesses and utilizes in its activities to produce revenue over an extended period.

Net Cash Flow

The difference between cash inflows and outflows within a specified period, indicating the company's liquidity.

Net Income

The net income of a company following the deduction of all taxes and expenses from the gross revenue.

Cash Payback Period

The period of time required for the return on an investment to "pay back" the sum of the original investment.