Which of the Following Is FALSE Concerning Enterprise Resource Planning

question 61

Multiple Choice

Which of the following is FALSE concerning enterprise resource planning (ERP) ?

• A) It attempts to automate and integrate the majority of business processes.
• B) It shares common data and practices across the enterprise.
• C) It is inexpensive to implement.
• D) It provides and accesses information in a real-time environment.
• E) ERP software promises reduced transaction costs.

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Definitions:

Accounting Equation

The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Equity, representing the relationship between an entity’s resources and how those resources are financed.

Cash Dividends

Payments made by a corporation to its shareholder members, usually derived from the company’s profits.

Purchase

The act of obtaining goods or services in exchange for money, which can be recorded as an asset or expense depending on its use.

Account

A record in financial accounting that tracks the increase and decrease of financial values, such as assets, liabilities, revenues, and expenses.