Question 1

Any business events that occur between companies and their subsidiaries are known as ____________________.

Accepted Answer

The answer of Any business events that occur between companies...

Question 2

In the SAP ERP system,inputs to the general ledger occur simultaneously with input of business transactions to the various modules.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

For Fitter Snacker,the sum of direct materials,production overhead,and direct labor is the ____.

Accepted Answer

A)  COGM - cost of goods manufactured 
B)  COGS - cost of goods sold 
C)  COGP - cost of goods produced 
D)  COGS - cost of goods shipped

Question 5

What are the key features of the Sarbanes-Oxley Act?

Accepted Answer

The answer of What are the key features of the...

Question 6

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

The answer of With a properly configured and managed ERP...

Question 7

Assume Fitter Snacker's existing information systems are in place.FS has a customer called First State TastyBars.Here is the background data on FS and First State TastyBars:
  
An order has come in from First State TastyBars:
  
There are some documents in FS's system as follows:
  
a. Given the state of FS's systems, will credit be granted or denied on the current order (purchase order FST 1003)?
b. What is the actual First State TastyBars accounts receivable balance (without considering the current order)?
c. If the FS systems processed transaction data in a more timely way would credit be granted or denied? Why?

Accepted Answer

The answer of Assume Fitter Snacker's existing information systems are...

Question 8

This is Fitter Snacker's ____.

Accepted Answer

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

Question 9

Tolerance groups allow for limiting the authority of employees over certain amounts of transactions.

Accepted Answer

A) True 
 B)False

Question 10

The US Congress passed the Sarbanes-Oxley Act of 2002 in response to the fraud and abuse in the Enron collapse.

Accepted Answer

A) True 
 B)False

Question 11

Explain how SAP ERP built-in management reporting and analysis tools are an advantage to an organization.

Accepted Answer

The answer of Explain how SAP ERP built-in management reporting...

Question 12

Given that 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

Question 13

Another name for an income statement is a profit and loss statement.

Accepted Answer

A) True 
 B)False

Question 14

Explain how activity based costing would be implemented using an ERP system.In doing that,explain the advantage of using ERP with activity based costing.

Accepted Answer

The answer of Explain how activity based costing would be...

Question 15

The following is an example of Fitter Snacker's Balance Sheet.

Accepted Answer

A) True 
 B)False

Question 16

Activity based costing is a way of treating overhead costs more like direct costs.

Accepted Answer

A) True 
 B)False

Question 17

Using standard costs to accumulate manufacturing costs means that the company does not have to keep track of actual manufacturing costs.

Accepted Answer

A) True 
 B)False

Question 18

A specialized database used for data analysis purposes is called a: ____.

Accepted Answer

A)  data warehouse 
B)  drill down store 
C)  document flow 
D)  document pile 
E)  data union

Question 19

Having ERP will require a company to restrict the number of cost allocation bases.

Accepted Answer

A) True 
 B)False

Question 20

When a company has an ERP system the general ledger is maintained by the ERP system.

Accepted Answer

A) True 
 B)False

Exam 5: Accounting in Erp Systems

Any business events that occur between companies and their subsidiaries are known as ____________________.

In the SAP ERP system,inputs to the general ledger occur simultaneously with input of business transactions to the various modules.

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

For Fitter Snacker,the sum of direct materials,production overhead,and direct labor is the ____.

What are the key features of the Sarbanes-Oxley Act?

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.

This is Fitter Snacker's ____.

Tolerance groups allow for limiting the authority of employees over certain amounts of transactions.

The US Congress passed the Sarbanes-Oxley Act of 2002 in response to the fraud and abuse in the Enron collapse.

Explain how SAP ERP built-in management reporting and analysis tools are an advantage to an organization.

Given that 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?

Another name for an income statement is a profit and loss statement.

Explain how activity based costing would be implemented using an ERP system.In doing that,explain the advantage of using ERP with activity based costing.

The following is an example of Fitter Snacker's Balance Sheet.

Activity based costing is a way of treating overhead costs more like direct costs.

Using standard costs to accumulate manufacturing costs means that the company does not have to keep track of actual manufacturing costs.

A specialized database used for data analysis purposes is called a: ____.

Having ERP will require a company to restrict the number of cost allocation bases.

When a company has an ERP system the general ledger is maintained by the ERP system.