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