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Middle Range Accounting Software Programs Can Cost as Much as $100,000

question 14

True/False

Middle range accounting software programs can cost as much as $100,000 when you include the costs of customizing the software for a particular organization.

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Definitions:

Accounts Payable

An accounting entry that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.

Office Equipment

Tangible long-term assets used in the daily operations of an office, including computers, printers, desks, and chairs.

Revenue

The sum of all revenue a company earns from selling products or providing services within a specified timeframe.

Expense

Costs incurred in the process of generating revenue, reflected in the income statement.

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