What characterizes the evaluated receipt settlement $($ERS$)$ approach in accounts payable?

ERS replaces the traditional three$-$way matching process with a two$-$way match of the purchase order and receiving report.

ERS involves a two$-$way match of the purchase order and supplier invoices, eliminating the need for receiving reports.

ERS requires a three$-$way matching process involving supplier invoices, receiving reports, and purchase orders.

The primary feature of ERS is its reliance on manual review for discrepancies between the receiving report and purchase order.