You Are Part of the Team to Implement New Software

question 63

Multiple Choice

You are part of the team to implement new software at XYZ Inc. The employees at XYZ Inc. trust the results of the old software programs, but are cautious about accepting the outcomes of the proposed new software programs. What software implementation strategy would you recommend in this situation?

• A)Direct cutover
• B)Phase-in approach
• C) Pilot startup
• D) Parallel start up

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Definitions:

Level 3 Assets

These are financial assets and liabilities that are hard to value because they do not have a readily observable market price, often requiring significant estimation in their valuation.

Fair Value Accounting

An accounting approach where companies measure and report the values of their assets and liabilities on the basis of the actual or estimated fair market prices.

Book Value

The net value of a company's assets minus its liabilities, as recorded on its financial statements.

Market Valuations

The process of determining the present value of an asset or a company based on market prices, often used to evaluate the worth of stocks or other securities.