Deck 1: C: Introduction to Business Processes

Question 1

The fulfillment process sell)consists of all the steps involved in selling and delivering the products to the organization's customers.

Answer 1

True

Question 2

The lifecycle data management design)process supports the design and development of products from the initial product idea stage through the discontinuation of the product.

Answer 2

True

Question 3

Insufficient supply results in a situation called "stock out."

Answer 3

True

Question 4

Lead time is the time between placing the order and receiving confirmation that the item has been shipped.

Question 5

Without the various steps of the business process,a company can't successfully bill customers and ship products.

Question 6

The procurement process includes all of the tasks involved in acquiring needed materials.

Question 7

Asset management is concerned with both the preventive and the corrective maintenance of an organization's equipment.

Question 8

The material planning process is used to maintain internal assets such as machinery and to delivery after-sales customer services such as repairs.

Question 9

Forecasts of finished goods are determined by data from material planning.

Question 10

Document management provides tools to manage and store documents securely and to keep track of the multiple versions of these documents.

Question 11

The financial accounting process focuses on internal reporting to manage costs and revenues.

Question 12

An enterprise system is a set of tasks or activities that produce desired outcomes.

Question 13

Large warehouses do not need to move items as quickly and efficiently as smaller warehouses.

Question 14

Systems that support end-to-end processes are called business processes.

Question 15

The most common organizational structure within modern organizations is the functional structure.

Question 16

Materials encompass all the products,components,and parts that are used in an organization.

Question 17

Losing sight of the big picture is commonly referred to as the silo effect.

Question 18

Excess supply will result in lower inventory costs because the company is eligible for a bulk rate.

Question 19

The purpose of material planning is to match supply with demand.

Question 20

Within the production process,the issuing of raw materials takes place in the warehouse.

Question 21

Management accounting helps an organization track costs and revenues to assess its profitability

Question 22

Common reports of financial accounting include income statement,profit and loss,and balance sheet.

Question 23

Accounts receivable is used to track money that is owed to vendors.

Question 24

Projects rely on resources located in and work performed in other processes.

Question 25

The final stage of the customer service process is the settlement stage.

Question 26

The final stage of asset management and customer service is the authorization maintenance stage.

Question 27

Asset accounting is concerned with tracking financial data related to assets such as machinery and cars.

Question 28

During the planning phase of a project the scope of the project is defined and the milestones and deadlines are established.

Question 29

Accounts payable is used to track money owed by customers.

Question 30

A project is permanent in nature and is typically associated with smaller,simpler projects.