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. 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






2. Determine which fields are listed.






3. Materials and labor - Costs in a finished product that can be estimated fairly accurately






4. Raw Materials: Purchased externally only - No sales view






5. To value inventory and a set time of year.






6. Used for keeping track of amounts owed/how large a client's credit line is.






7. An item that is widely available at a standard level of quality






8. Operating supplies






9. Specialized buyers - that can buy more in volume at a better discount.






10. 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






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






12. Configuration: sets up configuration templates - or menu paths - for the project.






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






14. Process is associated with the MM module in SAP






15. A section of a plant where inventory is kept. EX: Refrigerated and Non-refrigerated






16. General ledger accounts are created at ________






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






18. Cumulative time required between the supplier receiving the order and order delivery






19. The relationship between the general ledger and the chart of accounts: A general ledger uses a chart of accounts to be able to do ______________.






20. Helps with project management. The four transactions used in here - SOLAR_PROJECT_ADMIN - RMMAIN - SOLAR01 - SOLAR02






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






22. Financial statements filed with the SEC must include a statement signed by the CEO and CFO - certifying that the financial statement complies with SEC rules






23. 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






24. Production plan for all finished goods - Output for demand management process






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






26. 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 -






27. Maintain Vendor master records






28. Standard way of viewing the MRP process on paper






29. Processing of sales orders through a company's marketing - manufacturing - shipping and accounting systems






30. Configuration side of SAP






31. Microsoft and SAP have been working on _____- Intended to let companies have access to SAP data and processes using Microsoft Office UIs - Goal of Duet is to expand and simplify adoption of SAP ERP by making workers more efficient






32. A sub ledger account - part of a holding account traditionally accounts payable or accounts receivable - that helps books to be balanced.






33. Traditional record of accounting - something about what screens you can access it from






34. Time needed for supplier to fill order






35. Measurement of performance - used in relation to the effects of supply-chain management efforts






36. Process of breaking down the production plan into finer time units to meet individual product demand






37. General data is stored at the client level - company code is stored at FI - and purchasing data is stored at purchasing level. Client level: Address - communication - ____________. Company code level: Payment transactions and account management. Purc






38. Designed to encourage top management accountability in publicly traded firms - Written and passed in wake of Enron collapse






39. The purpose of a __________ in the MM module: Reserving materials for an upcoming sales/production order - just puts it aside






40. Client - company - company code - chart of accounts - fiscal year variant - and credit control area.






41. Process of developing a prediction of future demand for a product






42. Expected costs of manufacturing a product during a particular time period - Established by: Studying historical direct and indirect cost patterns - Accounting for effects of current manufacturing changes






43. FI's target audience






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






45. 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






46. More stringent requirements for financial reporting






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






48. Master data associated with the MM module: Vendor masters - material masters - and ____________.






49. How the data behaves in a field.






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