Which of the Following Is an Example of an ERP

question 21

Multiple Choice

Which of the following is an example of an ERP system?

• A)Alexis uses a computerized information system to keep track of all the financial data generated by her bakery.She is considering opening a new bakery on the east side of town.
• B)Betty has a system that keeps track of the accounts payable and receivable for her plumbing business.At the end of the year,the system helps her to prepare her taxes in just two hours.
• C)Charlie keeps records of all his business records in a shoe box.Each week he enters all of the data into spreadsheets that automatically generate purchase orders,based on predetermined inventory reorder points.Production quotas for the coming week are also automatically generated based on customer orders.
• D)Doug is a freelance photographer.He keeps records of all expenses and revenues on his cell phone and then e-mails them to himself every month.The files are stored on his personal computer and backed up to CD quarterly.

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Definitions:

Marginal Cost (MC)

The increase in total cost that results from producing 1 more unit of output. Marginal costs reflect changes in variable costs.

Marginal Cost

The financial increment incurred by the production of an extra unit of a product or service.

Average Total Cost

It refers to the total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.

Efficient Mix

An allocation of resources that maximizes the total utility to society, where no individual can be made better off without making someone else worse off.