ACCOUNTING PACKAGE/SOFTWARE Definition

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ACCOUNTING PACKAGE/SOFTWARE, usually, is a commercially available software program or suite that, with little customization, will satisfy the accounting system needs of the purchasing entity.

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PRODUCTIVE ACTIVITY usually is defined as including activities that have economic value in the marketplace. A more contemporary definition of productive activity includes any activity that produces a valued good or service, even if it is not actually paid for.

LIMIT TEST is a computer program step that compares data with predetermined limits as a reasonableness test, e.g. number of hours worked over 40 per week.

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