Question 1

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account 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 D

Question 2

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

Accepted Answer

A) activity-based costing 
B) backoffice costing 
C) run of the mill costing 
D) plant operation costing 
A) activity-based costing 
B) backoffice costing 
C) run of the mill costing 
D) plant operation costing A

Question 3

Describe the general ledger with regard to SAP ERP.

Accepted Answer

In the SAP ERP system,input to the general ledger occurs simultaneously with the business transaction in the specific module.

Question 4

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 5

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 6

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 7

Figure 2
-Figure 2 is an example of Fitter Snacker's Income Statement.

Accepted Answer

A) True 
 B)False

Question 8

The Sarbanes-Oxley Act requires that financial statements filed with the SEC include a statement signed by the chief executive officer and chief financial officer,certifying that the financial statement complies with the SEC rules.

Accepted Answer

A) True 
 B)False

Question 9

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Accepted Answer

A) $1.00 
B) $0.99 
C) $0.97 
D) $1.25 
A) $1.00 
B) $0.99 
C) $0.97 
D) $1.25

Question 10

Figure 3
-Figure 3 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 11

Figure 1
-Figure 1 is an example of Fitter Snacker's Income Statement.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Figure 1
-Figure 1 is an example of Fitter Snacker's Balance Sheet.

Accepted Answer

A) True 
 B)False

Question 14

What are the three cost elements for a manufactured item?

Accepted Answer

A manufactured item has three cost eleme

Question 15

It is very easy to delete items in the ERP system.

Accepted Answer

A) True 
 B)False

Question 16

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 17

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 18

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

Accepted Answer

financial

Question 19

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

Accepted Answer

Accounts stated in another country's cur

Question 20

Figure 2
-Figure 2 is an example of Fitter Snacker's Balance Sheet.

Accepted Answer

A) True 
 B)False

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account is called ____.

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

Describe the general ledger with regard to SAP ERP.

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

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

What is the advantage to credit management in SAP ERP?

Figure 2 -Figure 2 is an example of Fitter Snacker's Income Statement.

The Sarbanes-Oxley Act requires that financial statements filed with the SEC include a statement signed by the chief executive officer and chief financial officer,certifying that the financial statement complies with the SEC rules.

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Figure 3 -Figure 3 is an example of ____.

Figure 1 -Figure 1 is an example of Fitter Snacker's Income Statement.

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

Figure 1 -Figure 1 is an example of Fitter Snacker's Balance Sheet.

What are the three cost elements for a manufactured item?

It is very easy to delete items in the ERP system.

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

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

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

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

Figure 2 -Figure 2 is an example of Fitter Snacker's Balance Sheet.

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

RFID, business Intelligence BI, Mobile Computing, and the Cloud

Filters

Exam 5: Accounting in ERP Systems

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account is called ____.

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

Describe the general ledger with regard to SAP ERP.

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

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

What is the advantage to credit management in SAP ERP?

Figure 2 -Figure 2 is an example of Fitter Snacker's Income Statement.

The Sarbanes-Oxley Act requires that financial statements filed with the SEC include a statement signed by the chief executive officer and chief financial officer,certifying that the financial statement complies with the SEC rules.

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Figure 3 -Figure 3 is an example of ____.

Figure 1 -Figure 1 is an example of Fitter Snacker's Income Statement.

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

Figure 1 -Figure 1 is an example of Fitter Snacker's Balance Sheet.

What are the three cost elements for a manufactured item?

It is very easy to delete items in the ERP system.

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

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

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

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

Figure 2 -Figure 2 is an example of Fitter Snacker's Balance Sheet.

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

RFID, business Intelligence BI, Mobile Computing, and the Cloud

Filters