An Enterprise Resource Planning (ERP) System Would

question 27

Multiple Choice

An enterprise resource planning (ERP) system would:

• A)Update both accounts receivable and inventory when purchased goods are received from a vendor.
• B)Update both accounts payable and accounts receivable when inventory purchased from a vendor is received.
• C)Update both accounts payable and sales when purchased goods are received from a vendor.
• D)Update both accounts payable and inventory when purchased goods are received from a vendor.

---

Definitions:

Economic Growth

The escalation in the real value of products and services an economy produces, adjusted for inflation, over time.

Outward Shift

Refers to an expansion in an economy's production possibility frontier, indicating an increase in the ability to produce goods and services.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced with a fixed amount of resources and technology in a given period.

7 Percent Unemployment

A situation where 7 out of every 100 labor force participants are without a job and actively seeking employment, indicating the level of joblessness in an economy.