Enterprise Resource Planning (ERP) Is One of the Most Significant

question 11

Multiple Choice

Enterprise Resource Planning (ERP) is one of the most significant developments of the basic MRP philosophy. Determine whether this statement is a feature of ERP: It can only be interfaced with
Specially designed applications programs.

• A) Feature of ERP
• B) Not a feature of ERP

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity, including the balance sheet, income statement, and cash flow statement.

GAAP

Generally Accepted Accounting Principles, a common set of accounting rules and standards for financial reporting.

Material Departure

A significant deviation or divergence from expected, customary, or defined standards or practices, often in financial reporting or auditing.

SEC

The Securities and Exchange Commission, a U.S. government agency responsible for regulating the securities markets and protecting investors.