Enterprise-Resource Planning Software

question 60

Multiple Choice

Enterprise-resource planning software:

• A) Uses batch processing of business information.
• B) Is another name for spreadsheet programs.
• C) Refers to programs that help manage a company's vital operations.
• D) Is substantially declining in use.
• E) Is another name for database programs.

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Definitions:

Sales Discounts

Sales discounts are reductions in price offered to customers as an incentive for early payment or to encourage sales.

Net Sales

The total sales income of a company after removing costs associated with returns, allowances for damaged or lost items, and price reductions.

Multiple-Step Income Statement

A detailed financial statement that separates operating revenue and expenses from non-operating items, displaying multiple layers of income and expense.

Net Sales

The revenue from sales after deducting returns, allowances for damaged or missing goods, and discounts.