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Many Companies Are Extending Internal Enterprise Resource Planning (ERP)systems to Their

question 66

Multiple Choice

Many companies are extending internal enterprise resource planning (ERP) systems to their suppliers and customers,using a concept called _____.


Definitions:

Contract

A legally binding agreement between two or more parties that outlines obligations and rights, enforceable by law.

Performance

The execution or fulfillment of terms as specified in a contract, such as the completion of duties or the payment of a sum.

Incidental Beneficiary

A third party who benefits from a contract between two others but does not have contractual rights to enforce that benefit.

Intended Beneficiary

A person or group for whom a contract is specifically designed to benefit, even though they are not a direct party to the contract.

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