Which of the Following Does Not Apply to Enterprise Resource

question 42

Multiple Choice

Which of the following does not apply to enterprise resource planning (ERP) software:

• A) ERP refers to programs that help manage a company's vital operations.
• B) ERP can include programs that extend from order taking to manufacturing to accounting.
• C) ERP can speed up business decision making and help reduce costs.
• D) ERP can not be used to share data with customers and suppliers.
• E) ERP can be designed to link every part of a company's operations.

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Definitions:

Weighted-Average Method

A costing method that calculates the cost of goods sold based on the average cost of all similar items in inventory.

Conversion Costs

The sum of labor and overhead expenses required to convert raw materials into finished products.

Process Costing

Process costing is an accounting methodology adopted by companies manufacturing homogeneous products, where the costs of production are accumulated by process or department and averaged over the units produced.

Weighted-Average Method

An inventory costing method that assigns the average cost of the goods available for sale to both ending inventory and cost of goods sold.