COBOL stands for Common Business Oriented Language.The US Department of Defense, in a conference, formed CODASYL (Conference on Data Systems Language) to develop a language for business data processing needs which is now known as COBOL.
COBOL is used for writing application programs and we cannot use it to write system software. The applications like those in defense domain, insurance domain, etc. which require huge data processing make extensive use of COBOL.
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