Distinguish between open source and closed source programs

What will be an ideal response?

The term open source means that the source code of the program is available to the public. Source code is computer code as written by humans and understandable by humans. Source code is compiled into machine code that is processed by a computer. Machine code is, in general, not understandable by humans and cannot be modified. In a closed source project, for example Microsoft Office, the source code is highly protected and only available to trusted employees and carefully vetted contractors. The source code is protected like gold in a vault. Only those trusted programmers can make changes to a closed source project. With open source, anyone can obtain the source code from the open source project's Web site. Programmers alter or add to this code depending on their interests and goals. In most cases, programmers can incorporate code they find into their own projects. They may be able to resell those projects depending on the type of license agreement the project uses.

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Murphy, Inc. had the following balances and transactions during 2017

Beginning Inventory 10 units at $73 June 10 Purchased 20 units at $82 December 30 Sold 20 units December 31 Replacement cost $63 The company maintains its records of inventory on a perpetual basis using the last-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory at December 31, 2017 using the lower-of-cost-or-market rule. A) $820 B) $1,260 C) $630 D) $1,890

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Automobile manufacturers, new car and used car dealers, financing companies, and insurance companies are all part of the automobile ________

A) marketplace B) marketspace C) metamediary D) marketportal E) metamarket

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