Final answer:
ERP systems integrate various business functions, such as Financial Accounting, Order Processing, Supply Chain Management, Warehousing, and Management Accounting. The correct answer to which functionalities are provided by ERP systems is option c, which includes all these areas.
Step-by-step explanation:
Enterprise Resource Planning (ERP) systems are integral to modern business operations. They integrate various functional areas of an organization to ensure smooth, efficient workflows and improved data management.
The functionalities provided by ERP systems include a broad range of modules, such as Financial Accounting, Order Processing, Supply Chain Management, Warehousing, and Management Accounting. This integration enables companies to streamline their processes, reduce redundancy, and make data-driven decisions.
Specifically, Financial Accounting involves managing a company's monetary transactions and creating financial statements. Order Processing includes handling customer orders from placement to delivery.
Supply Chain Management is about managing the flow of goods and services from suppliers to customers. Warehousing relates to the storage and management of goods within a warehouse. Management Accounting involves analyzing business costs and operations to inform management decisions.
Given these functionalities, the correct answer to the student's question is: Enterprise resource planning (ERP) systems provide the following functionality: i) Financial accounting, ii) Order processing, iii) Supply chain management, iv) Warehousing, v) Management Accounting. Therefore, the option that includes all these functionalities is option c. i, iii, iv, and v.