________ Software Are Applications Written by Third-Party Vendors That Are

question 76

Multiple Choice

________ software are applications written by third-party vendors that are used by many different users and organizations.

• A) Packaged
• B) Custom
• C) Bespoke
• D) Personalized
• E) Tailored

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Definitions:

Extraordinary Items

Events and transactions that are both unusual in nature and infrequent in occurrence, significantly impacting a company's finances.

Operating Loss Carryforward

A tax provision that allows businesses to apply current year operating losses against future profits to reduce tax liability.

Deferred Liability

A liability that is recognized on the balance sheet but will be settled at some point in the future.

Tax Benefit

A tax policy that allows certain deductions, credits, or exclusions that ultimately reduce a taxpayer's burden, improving financial efficiency.