A System That Comprises a Single Database That Collects Data

question 133

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 resource planning (ERP) system
• C) just-in-time (JIT) system
• D) material requirements planning (MRP) system

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Definitions:

Sale and Leaseback Arrangement

A financial transaction where one sells an asset and leases it back for the long-term; thereby retaining its use while freeing up the cash invested in the asset.

Tax-Oriented Lease

A leasing agreement structured in a way that allows the lessor to claim tax benefits related to the asset being leased.

Tax Purposes

For tax purposes indicates the considerations or implications for calculating and reporting taxes, differing from accounting or financial purposes and might involve specific treatments for expenses or revenues.

Financial Lease

A type of lease where the lessee assumes some of the risks and benefits of ownership of the leased asset.