Ryan Works for a Small Consulting Company

question 22

Multiple Choice

Ryan works for a small consulting company. They want to do a better job of tracking their clients and the jobs they have bid on and either won or lost. There are no processes in place right now, and all users (consultants and managers) have different ideas. Their IT consultants have suggested they use JAD to design their application. The IT consultants will use agile development to deliver the application. Agile development ______________.

• A)requires little user input.
• B)forcuses on all required functionality at each step of the way.
• C)uses the scrum approach to design the system.
• D)delivers functionality in rapid interactions.
• E)takes a longer time but the results are better.

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Definitions:

Journal

A book or digital record where transactions are initially recorded before they are posted to ledgers.

Liability Account

An accounting record that captures obligations or debts a company owes to others, which are expected to be paid in the future.

Expense Account

An account where businesses track costs incurred during operations, often related to employees' business-related expenses.

Chart of Accounts

The Chart of Accounts is a systematic list of all accounts used by an organization, essential for classifying and organizing financial transactions within the general ledger.