What Is at the Heart of Any ERP System

question 20

Multiple Choice

What is at the heart of any ERP system?

• A) Information
• B) Employees
• C) Customers
• D) Database

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Definitions:

Journal

A detailed record where all financial transactions of a business are initially recorded before being transferred to accounts in the ledger.

Accounts Payable

Liabilities representing amounts owed to suppliers or creditors for goods and services received that are not yet paid.

Paid to You

This term generally refers to any payment made directly to an individual, often in the context of salaries, dividends, or other forms of income.

Revenue Accounts

Accounts that track money earned from a company's operations and activities, usually from the sale of goods and services.