What Is the Difference Between Insourcing and Selfsourcing

question 75

Multiple Choice

What is the difference between insourcing and selfsourcing?

• A)Selfsourcing requires the use of internal consultants; insourcing requires staff from the IT department
• B)Selfcourcing is self-regulating; insourcing requires internal quality controls
• C)Selfsourcing allows for end user development; insourcing requires internal IT staff
• D)Selfsourcing allows for one person to complete the systems development life cycle; insourcing is a team effort

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Definitions:

Cash Receipts

The collection of money, such as income from sales or assets being liquidated, recorded during an accounting period.

Cash Payments

Money transactions made to settle obligations or purchases.

CPAs

Certified Public Accountants, professionals who have met the education and licensing requirements to offer accounting services to the public, including audits and financial planning.

Financial Statements

Documents that provide an overview of a company's financial condition, including income statement, balance sheet, and statement of cash flows.