The most important phase of the SDLC is the requirement gathering and analysis phase because this is when the project team begins to understand what the customer wants from the project.
Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel
Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization
Answer:
A sudden sharp reduction in the availability of money or credit from banks and other lenders.
Answer:
(C) Collected cash for the principal balance of a note receivable
Explanation:
This is so because paying off principal balance of a note payable will definitely reduce cash asset and ultimately lead to liabilities of note payable. The cash outflow from the payoff of the note payable would be classified as a financing activity, and this way the the income statement is not affected.
