An ERP Solution Consists of Application Programs, Databases, and Business

question 113

True/False

An ERP solution consists of application programs, databases, and business process procedures, but does not contain training and consulting.

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Definitions:

Annual Basis

This term usually refers to the accounting or financial evaluation of certain activities, income, or expenses projected or calculated over the span of a year.

Balance Sheet

A document outlining a corporation's financial standing, detailing assets, liabilities, and equity of shareholders on a given date.

Market Value

The current price at which an asset or a company can be bought or sold in a public market.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business' operating cycle, whichever is longer.