Making Program Changes, Correcting Errors in the Programs, and Adding

question 174

True/False

Making program changes, correcting errors in the programs, and adding enhancements to the programs is called systems development.

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Definitions:

Profits

The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes needed to sustain the activity.

Lawn Mowing

The action or process of cutting the grass in a lawn to maintain its appearance and health.

Shut Down

A short-term decision by a firm to cease production due to market conditions, typically because the market price is below the minimum of average variable costs.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating profitability beyond normal returns.