Application Software Can Be Subdivided into Two Categories

question 73

Multiple Choice

Application software can be subdivided into two categories:

• A) COTS and POTS
• B) First generation and second generation
• C) Custom and commercial
• D) General purpose and function specific

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been deducted from total revenue.

Initial Value Method

An accounting method where investments are recorded at their acquisition cost without adjusting for changes in the value or performance of the investment over time.

Consolidation Entry G

An adjusting entry made during the consolidation process to eliminate intra-group transactions and balances in the preparation of consolidated financial statements.

Intra-entity Gross Profit

Refers to the profit generated from transactions within the same company or group, not yet realized from an external party's perspective.