ERP Godin Test 1
What is the final step in the fulfillment process?
Receipt of payment from the customer
Which program is the "operating system" for an entire company's business processes?
SAP Netweaver
Which term refers to a system in which workers complete their tasks in separate departments without regard to the consequences for the other components of the process?
Silo Effect
The key data in the purchasing view are
The purchasing group, the goods receipt processing time, and the delivery tolerances
general ledger accounts are known as
asset accounts, liability accounts, stockholders equity accounts
represents what a company owns, such as cash, inventory of materials, and buildings? used when the company acquires a fixed asset
assets
Materials that are created by the production process from other materials are referred to as
finished goods
has a non-physical form
intangible asset
SHORT ANSWER define enterprise system with example and benefits
integrated enterprise-wide information systems that coordinate key internal processes of the firm example: ERP, CRM
intangible asset example
intellectual property, patents, trademarks
example of tangible asset
land, buildings, equipment, and natural resources
Which one of the following is not an organizational data type in procurement?
manufacturing plant
Which of the following terms refers to materials with similar characteristics?
material group
Which of the following master data is used in numerous processes?
material master
Which of the following is a form of data within the goods receipt step?
material ordered, quantity delivered, verification, storage location
concerned with matching the demand for materials in the organization with the supply
material planning
Purchasing *groups* do not
negotiate contracts and agreements
A Purchasing Organization
negotiates contracts & agreements, negotiates pricing with vendors, and evaluates/identifies vendors
How many company codes can a plant belong to?
one
Which of the following is(are) used to represent the structure of an enterprise?
organizational data
research management
overseeing the development of communication systems, data quality, time schedules, cost controls, client profitability, and staff development
Which of the following is used to implement multiple ledgers and use each ledger for different purposes?
parallel accounting
involves the actual creation of the products
production process
Which process is used to plan and execute large projects such as the construction of a new factory or the production of complex products such as airplanes?
project management
NOT relevant to the fulfillment process?
purchasing organization
Materials that are purchased from an external source (a vendor) and used in the production process are known as
raw materials
Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?
reconciliation account
What type of materials is purchased from a vendor?
trading goods
Financial accounting (FI) documents, management accounting or controlling (CO) documents, and material documents are referred to as
virtual documents
media utilized by SAP to communicate with vendors
web services, EDI, Fax, and Print
Which of the following identify tasks that are scheduled to be completed in a process?
work lists
What is the final step of the procurement process?
Payment
Which of the following statements regarding the fulfillment process is NOT true?
A sales order must be created with reference to a quotation
business processes
A set of tasks or activities that produce a desired outcome
accounts payable
Amounts to be paid in the future for goods or services acquired
Which term represents a set of tasks or activities that produce desired outcomes?
Business Process
best describes the operative chart of accounts?
Contains the operational accounts that are used to record the financial impact of an organization's day-to-day transactions
steps in the procurement process
Create Purchase Requisition, Select Source of Supply, vendor Selection, Create Purchase Order, Purchase Order Monitoring, Goods Receipt, Invoice Verification, Payment
provides tools to manage and store documents securely and to keep track of the multiple versions of these documents
Document Management
Which of the following is concerned with the storage and movement of materials?
Inventory and warehouse management
NOT a characteristic of a wholesale channel
It distributes goods directly to consumers.
SAP's operating system
NetWeaver
correct order of process steps for the fulfillment process?
Pre-sales activity, sales order processing, inventory sourcing, shipping, billing, payment
Form of invoice verification?
Three way match
SHORT ANSWER Define business processes and what it means to have integrated business processes
a business process is a set of tasks that produce a desired outcome. an integrated business process extends the principles of shipping and operations through the entire process to make everything seamless.
SHORT ANSWER define ERP with example and benefits
a software system designed to integrate the main functional areas of an organization's business processes into a unified system example: SAP, Epicor benefits: save costs in the long run, decrease labor, connect a business with itself, connect a business more with companies and vendors, provide faster feedback
key process in financial accounting & is used to manage money owed by customers for goods and services purchased from the company
accounts receivable
fulfillment
all steps involved in selling and delivering products to customers
Which process is concerned with recording data associated with bank statements?
bank ledger accounting
inventory management
buying and storing materials and products while controlling costs
The highest organizational level in SAP ERP is the
client
materials acquired to be consumed or used within the organization
consumable materials
refers to business processes that are not executed by a single group or function
cross functional
connects a company's ERP system to those of its customers
customer relationship management
NOT a document in Purchasing?
delivery document
characteristics of wholesale channel
does not include sales taxes in calculating prices in the US, requires a minimum volume of purchase, offers volume discounts, designates a specific plant or plants from which deliveries are made
Models of a Purchasing Organization
enterprise, company, plant, cross plant
represents the costs associated with creating and selling products and services?
expenses
represents the monies a company earns by selling its products and services?
revenues
not relevant to purchasing process
sales master
Which of the following is not a mode of acquiring an asset for a company?
selling equipment
A company can use which of the following to select a vendor from a list of potential suppliers? **
source list
shows detail for part of the accounting records such as property and equipment, prepaid expenses, etc
sub ledger account
design management
supports the design and development of products all the way through the process
has a physical form
tangible asset
Which element of the requirements determination process involves the requisition creation?
task
procurement
the buying and reselling of goods that have already been produced