When to Abandon a Legacy System,versus Continuing to Incur Application

question 8

True/False

When to abandon a legacy system,versus continuing to incur application maintenance costs,is a key application management issue.

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Definitions:

Liabilities

Economic obligations or debts that an entity is required to pay to another party.

Owner's Equity

The net assets belonging to shareholders or owners of an entity after liabilities are accounted for, denoting their ownership claim.

Net Income

The company's net income, which is the remainder after deducting all expenses, taxes, and costs from the gross revenue.

Drawings

The act of the business owner taking out money or assets from the enterprise for private use.