A Big Advantage of the Systems Approach Over the Project

question 47

True/False

A big advantage of the systems approach over the project approach is that current information needed for normal operations is available when managers need it.

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Definitions:

EFT

Electronic Funds Transfer, a system of transferring money from one bank account directly to another without any paper money changing hands.

Remittance Advice

A document sent by a customer to a seller, informing the seller that an invoice has been paid, typically accompanying a payment.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the terms of an earlier invoice.

Receiving Report

The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.