A System That Comprises a Single Database That Collects Data

question 57

Multiple Choice

A system that comprises a single database that collects data and feeds it into software applications supporting all of a company's business activities is known as a(n)

• A)economic order quantity (EOQ)system.
• B)enterprise requirements planning (ERP)system.
• C)just-in-time (JIT)system.
• D)material requirements planning (MRP)system.
• E)total quality management (TQM).

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Definitions:

Purchase Demand

The quantity of goods or services that consumers are willing and able to buy at a given price within a specific time period.

Perpetual Inventory System

An accounting approach that continuously updates inventory records after each transaction, providing a real-time view of inventory levels.

Liability Credited

A credit entry in accounting representing an increase in liabilities, reflecting that a company has received something of value for which it must pay in the future.

Asset Debited

An accounting entry that increases the value of an asset account.