An Enterprise Resource Planning System can best be described as: i) a sophisticated means of linking two or more companies to facilitate their planning processes
ii) 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
iii) a collection of programs that use a variety of unconnected databases
iv) a database that is primarily used by a purchasing department to determine the correct amount of a particular supply item to purchase

Question 2:Cost/volume/profit (CVP) analysis does not assume that)Output is the only factor affecting costs.
ii)Total costs are divided into fixed and variable costs.
iii)The behavior of costs and revenues is not linear.
iv)There is not uncertainty.

Question 3:________ is the usual starting point for budgeting.i)  The production budget
ii)  Net income
iii) The revenues budget
iv) The cash budget