Enterprise Resource Planning (ERP) Integrates All Departments and Functions Throughout

question 56

True/False

Enterprise resource planning (ERP) integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations.

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or services provided.

Marginal Cost Curve

A graphical representation that shows how the marginal cost of producing additional units changes with the level of output.

Average Total Cost

The total cost of production (fixed and variable costs) divided by the total output or quantity produced.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance payments.