Question 1

A manufactured item has three cost elements.State what they are and briefly explain the nature of each.

Accepted Answer

Cost of (1)raw materials; (2)direct labor; (3)overhead.Overhead is the cost of making goods that is indirectly associated with specific items,for example heating and light.

Question 2

The capability of viewing summary information and then being able to look at details behind the summary is known as data mining.

Accepted Answer

A) True 
 B)False  False

Question 3

This is Fitter Snacker's ____.

Accepted Answer

A)  Balance Sheet 
B)  Income Statement 
C)  Credit Report 
D)  Document Flow 
A)  Balance Sheet 
B)  Income Statement 
C)  Credit Report 
D)  Document Flow B

Question 4

SAP ERP's management reporting tools use data in data warehouses.

Accepted Answer

A) True 
 B)False

Question 5

In a manufactured item,the cost of heating the plant would be considered part of the item's raw materials.

Accepted Answer

A) True 
 B)False

Question 6

The two key pieces of information for a cost analysis is the direct material and the direct ____.

Accepted Answer

A)  Labor 
B)  Overhead 
C)  Driver 
D)  Selling cost 
A)  Labor 
B)  Overhead 
C)  Driver 
D)  Selling cost

Question 7

The key feature of any ERP system is the ability to drill down from a report to the source documents (transactions)that created it.

Accepted Answer

A) True 
 B)False

Question 8

User authorizations help prevent fraud and abuse by employees paying fictitious vendors.

Accepted Answer

A) True 
 B)False

Question 9

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

Accepted Answer

By (1)translating from foreign

Question 10

List ways in which an ERP system can prevent or minimize fraud in a company.

Accepted Answer

Archiving
User autho

Question 11

Another name for an income statement is a ____.

Accepted Answer

A)  Credit 
B)  Profit and Loss 
C)  Sales 
D)  Revenue 
A)  Credit 
B)  Profit and Loss 
C)  Sales 
D)  Revenue

Question 12

What is the advantage to credit management in SAP ERP?

Accepted Answer

A)  Marketing and Sales get weekly reports 
B)  The data is in real-time 
C)  Payments are posted daily 
D)  There is no advantage 
A)  Marketing and Sales get weekly reports 
B)  The data is in real-time 
C)  Payments are posted daily 
D)  There is no advantage

Question 13

In a company that has an ERP system the accountants talk in terms of "data flows between modules" and "sharing data between modules".Why are the accountants speaking imprecisely? I.e.,why are "data flows between modules" and "sharing data between modules" misnomers if an ERP system is used?

Accepted Answer

The data is not shared.It's available to

Question 14

What are the two main accounting challenges when closing the books for companies with overseas subsidiaries?

Accepted Answer

Accounts stated in a foreign c

Question 15

The following screen in SAP is an example of ____.

Accepted Answer

A)  Production Planning 
B)  MRP 
C)  Document Flow 
D)  Configuration Settings 
A)  Production Planning 
B)  MRP 
C)  Document Flow 
D)  Configuration Settings

Question 16

In SAP ERP an event's "document flow" can be accessed from any SAP ERP screen.

Accepted Answer

A) True 
 B)False

Question 17

An ERP system could have prevented all fraud at Enron.

Accepted Answer

A) True 
 B)False

Question 18

What are the implications of the Sarbanes-Oxley Act for ERP systems?

Accepted Answer

Certainly the Sarbanes-Oxley Act has sig

Question 19

____ are often allocated based on total machine hours or total labor hours.

Accepted Answer

A)  Direct costs 
B)  Plant costs 
C)  Overhead costs 
D)  Manmade costs 
A)  Direct costs 
B)  Plant costs 
C)  Overhead costs 
D)  Manmade costs

Question 20

What is the significance of the following screen in SAP from an Accounting standpoint?

Accepted Answer

When an ERP system is used,all transacti

A manufactured item has three cost elements.State what they are and briefly explain the nature of each.

The capability of viewing summary information and then being able to look at details behind the summary is known as data mining.

This is Fitter Snacker's ____.

SAP ERP's management reporting tools use data in data warehouses.

In a manufactured item,the cost of heating the plant would be considered part of the item's raw materials.

The two key pieces of information for a cost analysis is the direct material and the direct ____.

The key feature of any ERP system is the ability to drill down from a report to the source documents (transactions)that created it.

User authorizations help prevent fraud and abuse by employees paying fictitious vendors.

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

List ways in which an ERP system can prevent or minimize fraud in a company.

Another name for an income statement is a ____.

What is the advantage to credit management in SAP ERP?

In a company that has an ERP system the accountants talk in terms of "data flows between modules" and "sharing data between modules".Why are the accountants speaking imprecisely? I.e.,why are "data flows between modules" and "sharing data between modules" misnomers if an ERP system is used?

What are the two main accounting challenges when closing the books for companies with overseas subsidiaries?

The following screen in SAP is an example of ____.

In SAP ERP an event's "document flow" can be accessed from any SAP ERP screen.

An ERP system could have prevented all fraud at Enron.

What are the implications of the Sarbanes-Oxley Act for ERP systems?

____ are often allocated based on total machine hours or total labor hours.

What is the significance of the following screen in SAP from an Accounting standpoint?

Business Functions and Business Processes

The Development of Enterprise Resource Planning Systems

Marketing Information Systems and the Sales Order Process

Production and Supply Chain Management Information Systems

Human Resources Processes With ERP

Process Modeling, process Improvement, and ERP Implementation

ERP and Electronic Commerce

Filters

Exam 5: Accounting in Erp Systems

A manufactured item has three cost elements.State what they are and briefly explain the nature of each.

The capability of viewing summary information and then being able to look at details behind the summary is known as data mining.

This is Fitter Snacker's ____.

SAP ERP's management reporting tools use data in data warehouses.

In a manufactured item,the cost of heating the plant would be considered part of the item's raw materials.

The two key pieces of information for a cost analysis is the direct material and the direct ____.

The key feature of any ERP system is the ability to drill down from a report to the source documents (transactions)that created it.

User authorizations help prevent fraud and abuse by employees paying fictitious vendors.

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

List ways in which an ERP system can prevent or minimize fraud in a company.

Another name for an income statement is a ____.

What is the advantage to credit management in SAP ERP?

In a company that has an ERP system the accountants talk in terms of "data flows between modules" and "sharing data between modules".Why are the accountants speaking imprecisely? I.e.,why are "data flows between modules" and "sharing data between modules" misnomers if an ERP system is used?

What are the two main accounting challenges when closing the books for companies with overseas subsidiaries?

The following screen in SAP is an example of ____.

In SAP ERP an event's "document flow" can be accessed from any SAP ERP screen.

An ERP system could have prevented all fraud at Enron.

What are the implications of the Sarbanes-Oxley Act for ERP systems?

____ are often allocated based on total machine hours or total labor hours.

What is the significance of the following screen in SAP from an Accounting standpoint?

Business Functions and Business Processes

The Development of Enterprise Resource Planning Systems

Marketing Information Systems and the Sales Order Process

Production and Supply Chain Management Information Systems

Human Resources Processes With ERP

Process Modeling, process Improvement, and ERP Implementation

ERP and Electronic Commerce

Filters