Which Statement Is Not True

question 55

Multiple Choice

Which statement is not true?

• A) prototypes do not include internal control features
• B) a prototype is an inexpensive, simplified model of a system
• C) a throwaway prototype is discarded after the requirements are established
• D) systems designers always discard prototypes and do not develop them into finished systems

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Definitions:

Close Revenue

The process of transferring the balances of all revenue accounts to the income summary account at the end of an accounting period.

Expense Accounts

Accounts used in accounting to record all expenses a company incurs during a specific period.

Adjusted Trial Balance

An adjusted trial balance is a listing of all company accounts that will appear in the financial statements after adjusting entries have been made for the accounting period.

Income Statement

A financial statement that shows a company's revenue and expenses over a specified period, leading to the net income or loss for the period.