All of the Following Are Characteristics of an ERP System

question 52

Multiple Choice

All of the following are characteristics of an ERP system EXCEPT:

• A) ERP systems provide seamless integration of information flow across the organization.
• B) ERP systems provide best (or at least "very good") practices for generic business processes.
• C) ERP systems have evolved to support newer IT architectures.
• D) ERP systems work "out of the box" with little configuration requirements.
• E) ERP systems are usually software packages obtained from a provider/vendor

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Definitions:

Power

In a business context, it often refers to the influence or capacity of a company or individual to effect decisions and control resources.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost of the variable overhead applied to a production process.

Variable Overhead Rate Variance

The difference between the actual variable overhead rate incurred and the expected (or standard) rate, multiplied by the actual activity level.

Variable Overhead Rate Variance

A measure used in managerial accounting to compare the actual variable overhead incurred to the expected overhead cost based on the standard cost system.