An Enterprise Resource Planning (ERP) System Allows a Sales Representative

question 63

Multiple Choice

An enterprise resource planning (ERP) system allows a sales representative to provide a customer with all of the following information except:

• A)Is the product in stock?
• B)What is the price of the product?
• C)What is the cost of the product?
• D)When will it be shipped?

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Definitions:

Physical Flow

The actual movement of goods through a production process or supply chain.

Internal Control

Methods and practices put in place by an organization to guarantee the accuracy of financial and accounting data, encourage responsibility, and inhibit fraudulent activities.

Physical Inventory

The process of counting and verifying the actual quantities of goods in stock at a particular time.

Inventory Cost Formulas

Methods used to determine the cost of inventory sold and ending inventory value, such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and weighted average cost.