The Business Processes in ERP Software Are Typically Predefined by the Best

question 7

True/False

The business processes in ERP software are typically predefined by the best practices that the ERP vendor has developed.

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Definitions:

Financial Account

Part of the balance of payments, it records transactions that involve the exchange of international ownership of assets.

Balance Surplus

A situation in which income or receipts exceed expenditures or outlays, often referring to a country's trade or fiscal balance.

Balance Deficit

A situation in financial accounts, particularly in national accounts, where total outflows exceed total inflows.

Capital and Financial Account

A component of a nation's balance of payments that covers the transfer of capital and financial assets across international borders.