Question 1

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

Accepted Answer

There may be thousands of complicated pr

Question 2

Periodically,companies summarize the balances in the books of account.This process is called: ____.

Accepted Answer

A)  Cost accounting 
B)  Account closure 
C)  Periodic closure 
D)  Closing the books 
E)  Statement wrap-up 
A)  Cost accounting 
B)  Account closure 
C)  Periodic closure 
D)  Closing the books 
E)  Statement wrap-up

Question 3

An income statement shows a company's profit or loss in a period.

Accepted Answer

A) True 
 B)False

Question 4

The SAP ERP system has a module called Accounting and Finance.

Accepted Answer

A) True 
 B)False

Question 5

It's very easy to delete items in the ERP system.

Accepted Answer

A) True 
 B)False

Question 6

When a company has an ERP system it no longer needs a general ledger.

Accepted Answer

A) True 
 B)False

Question 7

The following is an example of Fitter Snacker's Income Statement.

Accepted Answer

A) True 
 B)False

Question 8

How does ERP facilitate "drilling down" to see the details of transaction data?

Accepted Answer

(1)Transaction details are associated wi

Question 9

Having ERP will let a company use more cost allocation bases.

Accepted Answer

A) True 
 B)False

Question 10

Assume a company records its transactions in an ERP system.On the shop floor,a production run has just been finished and the finished goods are transferred to the warehouse for storage.What would a likely way be to tell the ERP system about this event?

Accepted Answer

A)  The bar codes on the goods are scanned as they enter the warehouse. The data generated is passed to the ERP database electronically. 
B)  A Production clerk summarizes the data in an Excel spreadsheet and sends the spreadsheet to Accounting. An Accounting clerk enters the data from the spreadsheet into the ERP program's Materials and Production modules. 
C)  The bar codes on the goods are scanned as they come off the production line. The data generated is passed to the ERP system's Production module electronically. Then bar codes on the goods are scanned as they enter the warehouse. The data generated is passed to the ERP database electronically. 
A)  The bar codes on the goods are scanned as they enter the warehouse. The data generated is passed to the ERP database electronically. 
B)  A Production clerk summarizes the data in an Excel spreadsheet and sends the spreadsheet to Accounting. An Accounting clerk enters the data from the spreadsheet into the ERP program's Materials and Production modules. 
C)  The bar codes on the goods are scanned as they come off the production line. The data generated is passed to the ERP system's Production module electronically. Then bar codes on the goods are scanned as they enter the warehouse. The data generated is passed to the ERP database electronically.

Question 11

Each transaction in SAP ERP gets its own unique number.This is known as: ____.

Accepted Answer

A)  Uniqueness numbering 
B)  Document flow 
C)  Auditing codes 
D)  Unique codes 
A)  Uniqueness numbering 
B)  Document flow 
C)  Auditing codes 
D)  Unique codes

Question 12

What is the following? ____________________

Accepted Answer

Fitter Sna

Question 13

Activity based costing means keeping track of instances of activities as well as their costs.

Accepted Answer

A) True 
 B)False

Question 14

In an ERP system,the balance sheet and P&L statements are: ____.

Accepted Answer

A)  Generated yearly 
B)  Not available 
C)  Reports 
D)  Modules 
A)  Generated yearly 
B)  Not available 
C)  Reports 
D)  Modules

Question 15

Assume that a buyer calls a seller to order $3,000 worth of goods and her credit limit is $10,000.If the sellers accounts receivable is already $8,500,how much of the new order will be accepted?

Accepted Answer

A)  The entire amount 
B)  $1,500 only 
C)  No amount 
D)  $10,000 only 
A)  The entire amount 
B)  $1,500 only 
C)  No amount 
D)  $10,000 only

Question 16

The following is an example of Fitter Snacker's Income Statement.

Accepted Answer

A) True 
 B)False

Question 17

In ____,activities associated with overhead cost generation are identified and then records are kept on the costs and on the activities.

Accepted Answer

A)  ABC, activity-based costing 
B)  BOC, backoffice costing 
C)  ROTM, run of the mill costing 
D)  POC, plant operation costing 
A)  ABC, activity-based costing 
B)  BOC, backoffice costing 
C)  ROTM, run of the mill costing 
D)  POC, plant operation costing

Question 18

The following screen in SAP is an example of production planning.

Accepted Answer

A) True 
 B)False

Question 19

Describe the general ledger with regard to SAP ERP.

Accepted Answer

When a transaction is recorded

Question 20

What is the following? ____________________

Accepted Answer

Fitter Sna

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

Periodically,companies summarize the balances in the books of account.This process is called: ____.

An income statement shows a company's profit or loss in a period.

The SAP ERP system has a module called Accounting and Finance.

It's very easy to delete items in the ERP system.

When a company has an ERP system it no longer needs a general ledger.

The following is an example of Fitter Snacker's Income Statement.

How does ERP facilitate "drilling down" to see the details of transaction data?

Having ERP will let a company use more cost allocation bases.

Assume a company records its transactions in an ERP system.On the shop floor,a production run has just been finished and the finished goods are transferred to the warehouse for storage.What would a likely way be to tell the ERP system about this event?

Each transaction in SAP ERP gets its own unique number.This is known as: ____.

What is the following? ____________________

Activity based costing means keeping track of instances of activities as well as their costs.

In an ERP system,the balance sheet and P&L statements are: ____.

Assume that a buyer calls a seller to order $3,000 worth of goods and her credit limit is $10,000.If the sellers accounts receivable is already $8,500,how much of the new order will be accepted?

The following is an example of Fitter Snacker's Income Statement.

In ____,activities associated with overhead cost generation are identified and then records are kept on the costs and on the activities.

The following screen in SAP is an example of production planning.

Describe the general ledger with regard to SAP ERP.

What is the following? ____________________

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

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

Periodically,companies summarize the balances in the books of account.This process is called: ____.

An income statement shows a company's profit or loss in a period.

The SAP ERP system has a module called Accounting and Finance.

It's very easy to delete items in the ERP system.

When a company has an ERP system it no longer needs a general ledger.

The following is an example of Fitter Snacker's Income Statement.

How does ERP facilitate "drilling down" to see the details of transaction data?

Having ERP will let a company use more cost allocation bases.

Assume a company records its transactions in an ERP system.On the shop floor,a production run has just been finished and the finished goods are transferred to the warehouse for storage.What would a likely way be to tell the ERP system about this event?

Each transaction in SAP ERP gets its own unique number.This is known as: ____.

What is the following? ____________________

Activity based costing means keeping track of instances of activities as well as their costs.

In an ERP system,the balance sheet and P&L statements are: ____.

Assume that a buyer calls a seller to order $3,000 worth of goods and her credit limit is $10,000.If the sellers accounts receivable is already $8,500,how much of the new order will be accepted?

The following is an example of Fitter Snacker's Income Statement.

In ____,activities associated with overhead cost generation are identified and then records are kept on the costs and on the activities.

The following screen in SAP is an example of production planning.

Describe the general ledger with regard to SAP ERP.

What is the following? ____________________

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