An Enterprise Resource Planning (ERP) System Can Best Be Described

question 61

Multiple Choice

An Enterprise Resource Planning (ERP) System can best be described as:

• A) a collection of programs that use a variety of unconnected databases.
• B) a single database that collects data and feeds it into applications that support each of the company's business activities, such as purchases, production, distribution, and sales.
• C) a database that is primarily used by a purchasing department to determine the correct amount of a particular supply item to purchase.
• D) a sophisticated means of linking two or more companies to facilitate their planning processes.

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Definitions:

Total Hours

Refers to the aggregate amount of time spent or required for a particular activity or work over a specified period.

Workweek

The standard period of time during which work is typically performed, often defined as 40 hours across five days in many countries.

Equity Mutual Fund

A type of mutual fund that primarily invests in stocks, aiming to provide returns through dividends and capital gains.

Rate of Return

A measure of the gain or loss on an investment over a specified time period, expressed as a percentage of the investment's cost.