A Commonly Used Computerized Means of Integrating Order Processing with Production

question 27

Multiple Choice

A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is

• A) web-based inventory management.
• B) just-in-time.
• C) electronic data interchange.
• D) universal product codes.
• E) activity-based management.

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Definitions:

Fiscal Year

A fiscal year is a one-year period designated for accounting and financial reporting purposes, differing from the traditional calendar year.

Ledger

The principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type.

Accounting Equation

A fundamental principle of accounting representing the relationship between a company's assets, liabilities, and equity (Assets = Liabilities + Equity).

Cash Refund

An amount paid by the seller to the buyer for merchandise that is defective, is damaged during shipment, or does not meet the buyer’s expectations.