Question 1

Give some examples of Marketing and Sales in a small business such as a coffee shop or some other simple example.

Accepted Answer

For the most part,this is a cash business and does not require formal record keeping,but you still need to keep track of your customers so that you can send flyers to repeat customers or send occasional thank you notes.Thus,your records must show not only the amount of sales,but also must identify repeat customers.
Product development can be done informally in such a simple business;you gather information about who buys which kind of lemonade and note what customers say about each product.You also analyze historical sales records to spot trends that are not obvious.

Question 2

One example of the business function that happens in the human resource area of operation would be ____________________.

Accepted Answer

Recruiting and hiring
Training
Payroll
Benefits
Government compliance

Question 3

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is:

Accepted Answer

A)  Marketing and Sales
B)  Accounting and Finance
C)  Supply Chain Management
D)  Human Resources B

Question 4

Describe the material order process in the accompanying figure:

Accepted Answer

The answer of Describe the material order process in the...

Question 5

The functional area of Supply Chain Management (SCM)sets prices.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following outputs would emerge from the Accounting and Finance functional area?

Accepted Answer

A)  Packaging orders
B)  Sales strategy
C)  Regulation compliance
D)  Financial reports

Question 7

____________________ programs are core software used by companies to coordinate information in every area of the business.

Accepted Answer

The answer of ____________________ programs are core software used by...

Question 8

The business function of government compliance falls under the Supply Chain Management functional area of operation.

Accepted Answer

A) True 
 B)False

Question 9

When manufacturing runs out of raw materials,it's known as a stockout.

Accepted Answer

A) True 
 B)False

Question 10

Information systems designed so that functional areas share data are called ____________________.

Accepted Answer

The answer of Information systems designed so that functional areas...

Question 11

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Accepted Answer

A) True 
 B)False

Question 12

Which business function is performed by Accounting and Finance?

Accepted Answer

A)  Cost allocation and control
B)  Taking sales orders
C)  Benefits
D)  Plant maintenance

Question 13

Choose an example company and give situations for each business process in the accompanying figure.Depending on your major or interest,choose one functional area of operation.
  
Figure 1-1 Examples of functional areas of operation and their business functions

Accepted Answer

The answer of Choose an example company and give situations...

Question 14

Accounts receivable are recorded by the Human Resources department (HR).

Accepted Answer

A) True 
 B)False

Question 15

A shortfall of raw materials is known as a(n)____________________.

Accepted Answer

The answer of A shortfall of raw materials is known...

Question 16

A(n)____________________ includes the computers,people,procedures,and software that store,organize,and deliver information.

Accepted Answer

The answer of A(n)____________________ includes the computers,people,procedures,and software that store,organize,and...

Question 17

Information systems that are designed so functional areas share data are called integrated information systems.

Accepted Answer

A) True 
 B)False

Question 18

Sales forecasts are historical records of sales.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is a functional area of operation?

Accepted Answer

A)  Packaging
B)  Supply Chain Management
C)  Shipping
D)  Baking

Question 20

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?

Accepted Answer

A)  Marketing and Sales
B)  Supply Chain Management
C)  Accounting and Finance
D)  Human Resources
E)  All of the above

Exam 1: Business Functions and Business Processes

Give some examples of Marketing and Sales in a small business such as a coffee shop or some other simple example.

One example of the business function that happens in the human resource area of operation would be ____________________.

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is:

Describe the material order process in the accompanying figure:

The functional area of Supply Chain Management (SCM)sets prices.

Which of the following outputs would emerge from the Accounting and Finance functional area?

____________________ programs are core software used by companies to coordinate information in every area of the business.

The business function of government compliance falls under the Supply Chain Management functional area of operation.

When manufacturing runs out of raw materials,it's known as a stockout.

Information systems designed so that functional areas share data are called ____________________.

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Which business function is performed by Accounting and Finance?

Choose an example company and give situations for each business process in the accompanying figure.Depending on your major or interest,choose one functional area of operation. Figure 1-1 Examples of functional areas of operation and their business functions

Accounts receivable are recorded by the Human Resources department (HR).

A shortfall of raw materials is known as a(n)____________________.

A(n)____________________ includes the computers,people,procedures,and software that store,organize,and deliver information.

Information systems that are designed so functional areas share data are called integrated information systems.

Sales forecasts are historical records of sales.

Which of the following is a functional area of operation?

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?