A Main Advantage of Enterprise Resource Planning (ERP)is That It

question 5

Multiple Choice

A main advantage of enterprise resource planning (ERP) is that it describes a _____ that ensures connectivity and easy integration of future systems,including in-house software and commercial packages.

• A) data frame
• B) platform
• C) bandwidth
• D) hub

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Definitions:

Adjusting Journal Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the correct period.

NSF Check

A check that is not honored by the bank due to insufficient funds in the account to cover the amount written on the check.

Bank Reconciliation

The method of aligning and scrutinizing numbers from financial records with those presented in a bank statement to verify their consistency.

Interest Earned

The income received from investments in financial instruments like savings accounts, bonds, and loans, usually calculated as a percentage of the principal amount.