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Question
Name the various categories of accounting package
Solution
There are three categories of accounting package, mentioned as follows:
a. Ready-to-use Software or Readymade Software - This is a general software which has a less number of the features which are of the basic in nature.
b. Customized Software - The software can be customized based upon the type of the industry or the segment.
c. Tailor-made Software or Tailored Software - The tailor made sore are based on the specifications and requirements of any particular company.
The component are as specified by the company.
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