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Eric discusses the concept of mandatory fields in Business Central, which are indicated by a red asterisk if empty. While it appears necessary to fill out these fields, it is possible to proceed without doing so. In the example of creating a new customer, the name field is shown as mandatory with an asterisk. However, it is shown that by entering a value, the asterisk disappears. In this case, the text area code is also mandatory, but it is shown that it can be left blank if not applicable.