Test your basic knowledge |

Subject : it-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Used for keeping track of amounts owed/how large a client's credit line is.






2. Gathering place for buyers and sellers on the internet






3. Trading goods: Always purchased externally - Sold without any change to the material - No manufacturing views exist.






4. Normal costs of manufacturing a product production and accounting must compare standard costs with actual costs to make account adjustments regularly






5. Process is associated with the MM module in SAP






6. This FI org structure is the smallest organizational unit for which accounting can be carried out






7. External accounting- balance sheet - profit and loss statement - legal requirement - standards -






8. Affects financial position of entity can measure in $ - affects atleast 2 accounts - debits = credits






9. Business blueprint: sets up the templates of the transaction codes that are to be used for the project.






10. Two company codes in the same company cannot have different






11. Company's______________ including costs for factory utilities - general factory labor - factory management - storage - insurance - and other manufacturing-related costs






12. Standard way of viewing the MRP process on paper






13. Do not have a purchasing view. Are not ever purchased - they are manufactured.






14. Determining production and order quantities






15. Benefits of EDI: Costs of paper - printing and posting eliminated - ____________ - Fast and efficient ordering - Suppliers and buyers are "locked" into business relationships






16. The amount of an item that can be produced - Plans should consider available capacity






17. Time between paying for raw materials and collecting cash from customer






18. Common term in manufacturing for aggregate planning - Disaggregated to generate detailed production schedules - Applies simple capacity-estimating techniques to production plan to test feasibility - Allows planner to see forecast results graphically






19. A record that shows a company's sales costs of sales - and the profit and loss for a period






20. Advantages of Using ASP: Affordability - _____________ - Expertise






21. Auditor independence - limits non-audit services an auditor can provide






22. The ________ for the purchasing process exists in MM and FI: they use the G/L accounts for purchasing.






23. Collection of components that support business transactions over the internet - Modules include: Enterprise Portal - Mobile Infrastructure - Business Intelligence - Master Data Management - and Exchange Infrastructure






24. Tracking technology that uses a small package - or tag - device that includes a microprocessor and antenna that can be attached to products






25. SAP org structure at the highest level - created at that level






26. Run at Plant level






27. One type of B2B electronic marketplace - typically focused on a single industry - Private exchange - type of industry marketplace where membership is restricted to selected participants






28. Detailed plan of what is to be produced - considering machine and labor capacity






29. SAP recommends the ____________ be established at the plant level.






30. Links a material to a vendor. / Tells which vendor can provide what materials.






31. One company code cannot have more than one ________






32. More stringent requirements for financial reporting






33. Operating supplies






34. To share a ___________________ - One person creates the general ledger - and then the others create it using the same account number - and assign it to their company code.






35. Company - Used to consolidate financial statements of multiple companies.






36. Intermediary internet-based network run by an outside EDI provider






37. Company Challenges FOR Duet include: Must be using relatively current version of SAP - Must run ___________ - May require use of other SAP products - Growing competition between SAP and Microsoft in ERP software market






38. An optional org structure; however - it is required by some businesses. A business area is for analyzing performance and being able to categorize a group of products into one group.






39. MUST be assigned at Plant level






40. Entities that represent the structure of the company and how it's made and how it's used. It's the framework for everything.






41. A transaction the occurs between a company and its subsidiary






42. 'Recipe' or list of materials (including quantities) needed to make a product






43. A plant does not have to be a [traditional] physical structure - Anything that holds _______ that is valued can be a plant.






44. costing - profit - product costing - profitabilit analysis - valuations - flexibility






45. The org structures in MM: Plant - storage location - __________ - purchasing group - and valuation area.






46. Process of determining what the company will produce - Input: sales forecast provided by Marketing - Output: production plan designed to balance market demand with production capacity - Production plan is input for next step - demand management






47. Common financial statement that shows account balances such as Cash held - Accounts Receivable: Amounts owed to company by customers - Cost of raw materials and finished goods inventory - Long term assets - Amounts owed to vendors - banks - and credi






48. Advanced form of inventory cost accounting in which overhead costs are assigned to products - based on the manufacturing activities that gave rise to the costs - Keeps records on costs and activities - Requires more bookkeeping than traditional cost






49. Has two options: Special or Default; there can be more than one CCA.






50. This has to be assigned for each comapny code to be able to create GL for the company. basis of general ledger - complete list of all acounts utilized in GL for a company. Reports made from balances in GL COA -