Effectiveness Refers to the Degree to Which Costs Are Reduced

question 60

True/False

Effectiveness refers to the degree to which costs are reduced without reducing efficiency.

Understand software licensing and the legal implications of software use.

Recognize the importance of backup and restore points before installing or updating software.

Differentiate between various software installation options and their benefits.

Recognize and describe different stages of software development.

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Definitions:

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends but kept for reinvestment in the business or to pay off debt.

Bargain Purchase

A situation where an entity acquires another entity's assets for less than their fair market value, often leading to a gain in the acquirer's financial statement.

Investment Account

An account held at a financial institution that is used for the purpose of investing in securities such as stocks, bonds, and mutual funds.

Liabilities

Liabilities are the economic debts or responsibilities that a business has to other entities, which are to be fulfilled over time by transferring economic resources.