MGT 351

Which of the following are material types referenced in this chapter? (3 correct answers)

Raw material Services Packaging

Which of the following process steps are included in the basic production process using a make to stock strategy? (3 correct answers)

Request production Receive finished goods Issue Materials

Which term represents the monies a company earns by selling its products and services?

Revenue

Which program is the "operating system" for an entire company's business processes?

SAP NetWeaver

Which of the following SAP systems are used to support inter-company processes? (2 correct answers)

SAP SCM SAP CRM

Which one of the following is not one of the data types that are relevant to the purchasing process?

Sales master

A sales area is a unique combination of which of the following elements? (3 correct answers)

Sales organization Distribution channel Division

Information structures enable companies to generate information in the form of: (2 correct answers)

Standard analysis Flexible analysis

Which of the following are methods of valuing materials in the material master? (2 correct answers)

Standard price Moving (average) price

An organization can possess which of the following types of assets? (3 correct answers)

Tangible Intangible Financial

Which type of asset has a physical form?

Tangible asset

The company code segment data in a general ledger account determines which of the following? (3 correct answers)

The account currency to be used Whether it will be used as reconciliation account Whether line item display is enabled for the account

Which of the following tasks are performed in the process step where payment to a vendor is made? (3 correct answers)

The method of payment is selected Invoice items to be paid are selected The payment amount is calculated

What is a storage location?

The place within a plant where materials are kept until they are needed

The key data in the purchasing view of the material master are

The purchasing group, the goods receipt processing time, and the delivery tolerances

Which of the following are consequences of the goods receipt step in the procurement process? (3 correct answers)

A material document is created An accounting document is created The quantity in the material master is updated

Which process is used to manage money owed by customers for goods and services purchased from the company?

Accounts receivable accounting

Which general ledger accounts are involved in accounts receivable accounting? (2 correct answers)

Accounts receivable reconciliation account Bank account

Which process tracks the financial impact of process steps with the goal of meeting legal reporting requirements?

Financial Accounting

What are the primary ways in which an asset can be acquired? (3 correct answers)

Internally by production Externally with a vendor Externally without a vendor

Which term represents what a company owes to others, including money owed to vendors and loans from financial institutions?

Liabilities

Which of the following are examples of online lists? (2 correct answers)

List of customers List of documents

Purchasing information systems are a component of which system?

Logistics information systems

Transaction data make use of which of the following types of data? (3 correct answers)

Master data Organizational data Situational data

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 item is included in the header of a purchase order?

Vendor

Financial accounting (FI) documents, management accounting or controlling (CO)documents, and material documents are referred to as

Virtual Documents

What is the final step of the procurement process?

Payment

General data in a vendor master contain all of the following except:

Payment terms and methods

In which steps of the asset management process is the production department involved? (3 correct answers)

Perform maintenance Authorize maintenance Request maintenance

Which of the following document types is not utilized during the Purchasing process?

Picking document

Supply chain management deals with (2 correct answers)

Planning for production demand requirements Optimizing transportation and logistics for materials

Which of the following terms refers to an organizational element that performs multiple functions and is relevant to several processes?

Plant

A plant can be used to represent which of the following? (3 correct answers)

A factory A storage facility (warehouse, DC) An office

A purchase order can be created with reference to which of the following? (3 correct answers)

A previously created purchase order A purchase requisition A request for quote (RFQ)

A purchase order can be sent to which of the following? (2 correct answers)

A vendor A plant

Which of the following is(are) a form of data within the goods receipt step?

All of the above

An FI document consists of a header and line items. Which of the following data are present in the FI document line items? (3 correct answers)

Amount Posting key Account number

Financial statements can be generated from which of the following?

Both operative and country-specific COAs

Which of the following steps are included in the basic project management process? (3 correct answers)

Budgeting Settlement Planning

Which term represents a set of tasks or activities that produce desired outcomes?

Business Process

Which of the following statements about SAP ERP are true? (3 correct answers)

Can be used to executes all processes in an organization Consolidates process data in a single database Enables users to view the status of a process in real time

The highest organizational level in SAP ERP is the

Client

Which organizational element(s) control(s) the entry of accounting data in the vendor master?

Client and Company Code

Which one of the following is not a model of the purchasing organization?

Client level

Which of the following are organizational elements in purchasing? (2 correct answers)

Company code Plant

Materials that are acquired to be used within the organization are referred to as

Consumable materials

Which of the following statements about a cost center are correct: (3 correct answers)

Costs incurred can be assigned to a cost center A cost center can be associated with a department A cost center is an example of a cost object

In which steps of the customer service process is the Sales department involved? (2 correct answers)

Create service request Authorize service

Which of the following are correct postings to record the purchase of supplies from a vendor on credit? (3 correct answers)

Credit vendor sub ledger account Debit supplies expense account Credit accounts payable reconciliation account

Which term refers to business processes that are not executed by a single group or function?

Cross-Functional

Which of the following are examples of master data in SAP ERP? (2 correct answers)

Customer Vendor

Which system connects a company's ERP system to those of its customers?

Customer Relationship Management (CRM)

A three-tier architecture includes which of the following components? (3 correct answers)

Data layer Presentation layer Application layer

Which of the following are correct postings to record payment to a vendor for supplies purchased on credit? (3 correct answers)

Debit vendor sub ledger account Credit bank account Debit accounts payable reconciliation account

A purchasing organization is involved in all of the following operations except

Determining storage locations within the plant

Reporting in financial accounting is broadly divided into which of the following two categories? (2 correct answers)

Displaying account information Generating financial statements

An FI document consists of a header and line items. Which of the following data are present in the FI document header? (3 correct answers)

Document type Posting date Currency

Which of the following records the impact of a transaction step on financial accounting?

Financial accounting document

Which of the following is used to report data needed to meet legal and regulatory requirements?

Financial statement

Data in the vendor master are grouped into which three segments?

General data, accounting data, and purchasing data

Which of the following statements concerning the leading ledger are true? (2 correct answers)

Global accounting principles are consolidated into the leading ledger All transaction data are posted to the leading ledger

Which accounts in the general ledger are impacted by the goods receipt step of the procurement process? (2 correct answers)

Goods receipt / invoice receipt account Inventory account

Which processes focus primarily on people and projects? (2 correct answers)

Human capital management processes Project management processes

Which of the following is concerned with the storage and movement of materials?

Inventory and warehouse management (IWM)

Which of the following statements concerning SAP NetWeaver are true? (3 correct answers)

It helps companies integrate their SAP systems with other non-SAP applications. It serves as the application platform on which the SAP Business Suite runs. It enables companies to plug in independent software vendor (ISV) applications on top of their core ERP and suite applications.

What is true about a business area? (3 correct answers)

It is a internal division of an enterprise It can represent product lines or geographic divisions Financial statements can be generated for business areas

Which process supports the design and development of products from the initial product idea stage through the discontinuation of the product?

Lifecycle Data Management

_____________enables an organization to optimize its product development process, from design to market, while ensuring that it complies with industry, quality, and regulatory standards?

Lifecycle Data Management

Which process uses historical data and sales forecasts to plan which materials will be procured and produced?

Material Planning

Material master data are grouped based on: (3 correct answers)

Material type Process Organizational Element

Which of the following are types of chart of accounts (COA)? (3 correct answers)

Operative COA Country specific COA Group COA

Which of the following is(are) used to represent the structure of an enterprise?

Organizational Data

Which of the following statements regarding organizational data are true? (2 correct answers)

Organizational data define the structure of an enterprise Organizational data represent entities such as warehouses and factories.

Which element of a purchase order includes communicating with the vendor?

Outcome

Which of the following steps are included in the basic fulfillment process using a sell from stock strategy? (2 correct answers)

Prepare Shipment Ship to Customer

What function does the warehouse perform in the fulfillment process?

Prepares and sends the shipment to the customer

Which term refers to all of the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed to make products?

Procurement Process

Which process involves the actual creation of the products?

Production Process

A plant is an organizational element where: (3 correct answers)

Products and services are created Production planning is carried out Services and maintenance is performed

Within the functional structure, typical functions or departments found in a modern organization include which of the following? (3 correct answers)

Purchasing Finance Marketing

Materials that are purchased from an external source (a vendor) and used in the production process are known as ______________

Raw Materials

What steps are involved in the accounting portion of the procurement process?

Receiving the invoice and sending payment

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

Reconciliation account

Which term is generally used to describe the ways that users can view and analyze data to help them make decisions and complete their tasks?

Reporting

What is the first step of the production process?

Request Production

Which item category would you use to have your vendor ship goods directly to your customer?

Third-party

Which of the following is a form of invoice verification?

Three-way match

____________reflect(s) the consequences of executing process steps.

Transaction Data

Which of the following statements concerning transaction data are true? (2 correct answers)

Transaction data are a consequence of the execution of process steps. Transaction data are constantly changing.

Which of the following goods movements need not involve a physical movement of materials?

Transfer posting

Which of the following are steps within a generic business process of an organization? (2 correct answers)

Trigger Outcome

Which of the following departments or functions are involved in the basic production process using the make to stock strategy? (2 correct answers)

Warehouse Production

Which of the following is used to integrate several client-server applications and create enterprise mash-ups, or composite applications?

Web Services

Which of the following statements concerning Web services are true? (3 correct answers)

Web services expose functionality to other applications. Web services have standard interfaces for input and output. Web services can be used to create composite applications.

General ledger postings include a debit entry and a credit entry. Which of the following will result in a credit posting? (4 correct answers)

When there is a decrease in assets When there is a decrease in expenses When there is an increase in revenues When there is an increase in liabilities

General ledger postings include a debit entry and a credit entry. Which of the following will result in a debit posting? (4 correct answers)

When there is an increase in assets When there is an increase in expenses When there is a decrease in revenues When there is a decrease in liabilities

Which of the following identify tasks that are scheduled to be completed in a process?

Work Lists