Ch 1. Business Functions and Business Processes
1. Accounting and Finance(A/F)
Accounting and Finance (A/F) performs financial accounting to provide summaries
operational data in managerial reports, and it is also responsible for tasks such a
1. A make-to-stock production system is one where:
a. Items are made for inventory in anticipation of sales orders
b. Items are produced to fill specific customer orders
c. Items are assembled for a specific customer order from an inventory of components
1. Periodically, companies summarize the balances in the books of account. This
process is called: _.
a. Cost accounting
d. Closing the books
b. Account closure
e. Statement wrap-up
c. Periodic closure
2. Assume a company records its transactions i
1. A graphical representation of a business process is known best as a _.
2. When doing process mapping, one of the most important tasks is to define the
_. These define which activities are to be incl
1. _ programs are core software used by companies to
coordinate information in every area of the business.
Enterprise Resource Planning (ERP)
2. A collection of activities that takes one or more kinds of input and creates an
output that is
1. EDI cannot be performed on the Internet.
2. Internet based procurement includes trade exchanges among companies competing for the same
3. Dynamic pricing is enabling more middlemen to get jobs facilitating buying and se
1. Which of the following is a functional area of operation?
b. Supply Chain Management
2. Which business function is performed by Accounting and Finance?
a. Cost allocation and control
1.One of the four functional areas of operation is Human Resources (HR).
2. Historically, businesses have had organizational structures that separated the functional areas, but
business schools have not been organized like that.
1. The complex software and hardware required for ERP systems was not available until the
2. The observation that the number of transistors built onto a computer chip doubles every 18 months is