The Three Phases in the Development of an Accounting System

question 55

Multiple Choice

The three phases in the development of an accounting system are:
I. Systems analysis
II. Systems plan
III. Systems design
IV. Systems implementation and review

• A) I, II, and III
• B) I, III and IV
• C) I, II, and IV
• D) II, III and IV

---

Definitions:

IRS

The Internal Revenue Service, a U.S. government agency responsible for the collection of taxes and enforcement of tax laws.

Estimated Payments

Estimated Payments are periodic prepayments of taxes on income that is not subject to withholding, such as self-employment income, interest, and dividends.

Subject to Withholding

Income that is subject to tax withholding by the payer, which includes wages, certain types of gambling winnings, and other payments.

Dependent

An individual, usually a child or spouse, who relies on another person for financial support and qualifies for certain tax benefits.