When an ERP Is Used,it Is Assumed That There Will

question 62

Multiple Choice

When an ERP is used,it is assumed that there will be increases in efficiency and the effectiveness of the activities related to the revenue cycle.However,what must be in place and functioning well to fully realize these benefits?

• A) an effective marketing staff
• B) all the components of the expenditure cycle
• C) adequate controls
• D) adequate system flowchart documentation

Differentiate between the allowance method and the direct write-off method.

Record and understand the implications of collecting an account previously written off.

Calculate and record interest on notes receivable.

Understand the concepts and accounting treatment for promissory notes and notes receivable.

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