Which of the Following Components of an Enterprise Resource Planning

question 7

Multiple Choice

Which of the following components of an enterprise resource planning (ERP) system provides information on marketing?

• A) The purchasing component
• B) The sales component
• C) The manufacturing component
• D) The accounting component

Understand the principles of proper cost allocation for property acquisition and improvements.

Grasp the concepts and applications of various depreciation methods.

Calculate and interpret total asset turnover ratio.

Understand the accounting treatment for the acquisition and depreciation of property, plant, and equipment (PPE).

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Definitions:

Accounting Standard-Setting

The process of developing the rules and guidelines that govern the preparation and presentation of financial statements.

Financial Accounting Standards Board

An independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.

Securities and Exchange Commission

A U.S. federal agency responsible for enforcing the federal securities laws and regulating the securities industry, stock and options exchanges.

Bookkeeping

A part of the accounting process that involves only the recording of economic events.