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






2. FI's target audience






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






4. One company code cannot have more than one ________






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






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






7. Concerning financial statement account balances expressed in one currency into balances expressed in another currency






8. Electronic computer to computer transfer of standard business documents that allows companies to handle the purchasing process electronically - Been used by companies since 1960s






9. Use of internet technologies for procurement activities - Benefits: Less expensive to use the internet than private EDI networks - Purchasing costs further reduced as suppliers compete for orders






10. Specifies only how information will look when viewed through browser - ERP systems now accept data in XML format - Streamlines data entry - reduces errors and reduces server loads - XML is very attractive to smaller companies because it allows data t






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






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






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






14. 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






15. Disadvantages of Using ASP: Security - Bandwidth/Response Time - Flexibility - No frills - Technical - not __________






16. Gathering place for buyers and sellers on the internet






17. Maintain Vendor master records






18. 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






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






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






21. The transaction side of SAP






22. Manufacturing environment in which production lines are switched from one product to another similar product - Production lines are scheduled for time blocks rather than number of items






23. Ability to view the details behind the summary of information - Direct links between financial statements and individual transactions that make up statements - Fraud and abuse can be detected more easily






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






25. Communication and sales between business and the buying public - Popularly - but incorrectly - thought of as the most common form of e-commerce






26. Material Master records are maintained by: Purchasing - Production - ________ - Sales






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






28. Modules are integrated for the purchasing process at the ____________.






29. Purchasing organization be assigned to _______ one plant - If you want to use the same purchasing organization by more than one company code - you have to assign the purchasing organization at Plant level






30. Programming language of the internet that uses tags that define the data contained within them - XML coded data can go directly from web page into database without middleware of needing to be rekeyed into the system - XML users can create customized






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






32. 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.






33. Determining production and order quantities






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






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






36. MUST be assigned at Plant level






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






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






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






40. G/L Accounts - Vendor Masters General Data - Material Master General Data - Divisions - and Distribution Channels.






41. 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






42. Standard way of viewing the MRP process on paper






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






44. Common financial statement that shows a firm's profit or loss for a time period






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






46. 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






47. Includes cost of buying and handling inventory - processing orders - and IS support






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






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






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







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