Most Companies Do Not Carry a High Degree of ERP

question 60

Short Answer

Most companies do not carry a high degree of ERP software __________ on their staff.

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Definitions:

Gross Method

An accounting approach for recording purchases at the invoice’s gross amount without deducting any cash discounts for early payment.

Merchandise

Goods bought and sold in the course of business operations.

Periodic Inventory System

An accounting system that records inventory purchases during the accounting period but waits until the end of the period to adjust the inventory balances and record cost of goods sold.

Gross Method

An accounting practice for recording the full invoice amount of a sale without deducting any discounts offered.