An Enterprise Resource Planning System Can Best Be Described as

question 77

Multiple Choice

An Enterprise Resource Planning System can best be described as

• A)a collection of programs that use a variety of unconnected databases.
• B)a single database that collects data and feeds it into applications that support each of the company's business activities, such as purchases, production, distribution, and sales.
• C)a database that is primarily used by a purchasing department to determine the correct amount of a particular supply item to purchase.
• D)a sophisticated means of linking two or more companies to facilitate their planning processes.
• E)exception reporting system for plant managers.

Recognize important considerations and steps in managing accounts receivable.

Understand the importance and roles of internal controls in a company's financial practices.

Recognize the importance of segregation of duties and its impact on preventing fraud and errors in financial statements.

Identify the role and importance of external and internal audits in maintaining financial integrity.

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Definitions:

Secondary Socialization

Is socialization outside the family after childhood.

Anticipatory Socialization

Involves taking on the norms and behaviors of a role to which we aspire.

Sigmund Freud's Theory

A set of psychoanalytic theories developed by Sigmund Freud that emphasize unconscious processes, childhood experiences, and sexuality in shaping human behavior.

Social Interaction

The process by which individuals act and react in relation to others, forming the basis of social relationships.