Identify One Major Drawback That Is Frequently Associated with Canned

question 20

Multiple Choice

Identify one major drawback that is frequently associated with canned software.

• A)A commercial software development company develops it.
• B)Canned software is sold on the open market to a broad range of users with similar requirements.
• C)Canned software may not meet all of a company's information or data processing needs.
• D)Canned software may offer easy availability and lower costs.

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Definitions:

Obligations

Legal or financial duties that one party owes another, such as debt repayment or service delivery.

Operating Cycle

The time it takes for a company to make an initial outlay of cash to produce goods or services and then receive cash back from selling these goods or services.

Accounting Cycle

The sequence of steps followed in the accounting process to record and summarize financial transactions throughout a period and prepare financial statements.

Journalizing Transactions

The process of recording business transactions in the journal as part of the accounting process.