ERP Systems Are Based on Software Modules for Various Functional

question 46

True/False

ERP systems are based on software modules for various functional areas of a business such as purchasing,production planning,and supply chain management.

---

Definitions:

Unassigned

Refers to resources or tasks that have not been allocated or designated to a specific category, department, or individual.

Encumbrances Outstanding

Liens or claims against property or assets that are unresolved or have not been paid off, affecting an owner's ability to transfer a clear title.

Modified Accrual Basis

An accounting method that combines elements of the accrual basis and cash basis accounting, recognizing revenues when they are available and measurable, and expenses when incurred.

Purchase Orders

Official documents issued by a buyer committing to pay the seller for the supply of specific products or services at agreed prices and terms.