Often the Customer of an IT Organization Is Not an External

question 52

True/False

Often the customer of an IT organization is not an external customer but rather an internal customer.

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Definitions:

Permanent Accounts

Financial statement accounts whose balances are carried over into the next accounting period.

Temporary Accounts

These include accounts that are closed at the end of each accounting period, including income, expense, and withdrawal accounts.

Carried Forward

The act of transferring a balance from one period to the next on financial statements or ledgers.

Owners' Equity

The total value belonging to the owners of a company, calculated as the company's total assets minus its total liabilities, indicative of the net worth.