Question 1

The functional area of Supply Chain Management (SCM)sets prices.

Accepted Answer

A) True 
 B)False  False

Question 2

Give some examples of Marketing and Sales in a small business such as a lemonade stand or some other simple example.

Accepted Answer

For the most part,this is a cash busines...

Question 3

Which of the following is a functional area of operation?

Accepted Answer

A)   Packaging
B)   Supply Chain Management
C)   Shipping
D)   BakingE) None of the above
F) B) and C)

Question 4

The business function of government compliance falls under the Supply Chain Management functional area of operation.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is an input to the Marketing and Sales functional area?

Accepted Answer

A)   Production plans
B)   Raw material orders
C)   Per-unit cost
D)   Accounts payable dataE) B) and D)
F) None of the above

Question 6

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Accepted Answer

A) True 
 B)False

Question 7

What are integrated information systems?

Accepted Answer

Sharing data effectively and efficiently...

Question 8

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is

Accepted Answer

A)   Marketing and Sales
B)   Accounting and Finance
C)   Supply Chain Management
D)   Human ResourcesE) C) and D)
F) A) and D)

Question 9

When purchasing a computer,the functional area responsible for technical support is

Accepted Answer

A)   Marketing and Sales
B)   Accounting and Finance
C)   Supply Chain Management
D)   Human ResourcesE) A) and B)
F) All of the above

Question 10

Describe the material order process in the following figure:

Accepted Answer

When production is alerted to a new orde...

Question 11

Analyses that attempt to predict the future sales of a product are called:

Accepted Answer

A)   Sales forecasts
B)   Sales divining
C)   Sales diving
D)   Sales derivingE) A) and D)
F) B) and D)

Question 12

Describe the difference between functional areas of operation and business processes.Give an example of a business process.

Accepted Answer

Most companies have four main functional...

Question 13

When manufacturing runs out of raw materials,it's known as a stockout.

Accepted Answer

A) True 
 B)False

Question 14

____ results in management overinvesting in extra raw materials

Accepted Answer

A)   Bulging raw materials
B)   Stockup
C)   Safety stock
D)   Excess baggageE) A) and B)
F) A) and C)

Question 15

What departments are involved in the business process of selling a new computer?

Accepted Answer

Refer to t...

Question 16

Which business function is performed by Accounting and Finance?

Accepted Answer

A)   Cost allocation and control
B)   Taking sales orders
C)   Benefits
D)   Plant maintenanceE) A) and C)
F) B) and C)

Question 17

The business functions of financial accounting,cost allocation and control,planning and budgeting,and cash-flow management take place in the ____________________ functional area of operation.

Accepted Answer

Accounting and Finance 
A/F

Question 18

Which of the following outputs would emerge from the Accounting and Finance functional area?

Accepted Answer

A)   Packaging orders
B)   Sales strategy
C)   Regulation compliance
D)   Financial reportsE) A) and C)
F) A) and D)

Question 19

A shortfall of raw materials is known as a ____________________.

Accepted Answer

Stockout

Question 20

Sales forecasts are historical records of sales.

Accepted Answer

A) True 
 B)False

Exam 1: Business Functions and Business Processes

The functional area of Supply Chain Management (SCM)sets prices.

Correct AnswerverifiedFalse

Give some examples of Marketing and Sales in a small business such as a lemonade stand or some other simple example.

Correct AnswerverifiedFor the most part,this is a cash busines...View AnswerShow Answer

Which of the following is a functional area of operation?

Correct AnswerverifiedShow Answer

The business function of government compliance falls under the Supply Chain Management functional area of operation.

Correct AnswerverifiedShow Answer

Which of the following is an input to the Marketing and Sales functional area?

Correct AnswerverifiedShow Answer

To avoid stockouts,manufacturers might carry extra raw materials.This excess is known as safety stock.

Correct AnswerverifiedShow Answer

What are integrated information systems?

Correct AnswerverifiedSharing data effectively and efficiently...View AnswerShow Answer

When purchasing a computer,the functional area responsible for handling the financial help for purchasing that computer is

Correct AnswerverifiedShow Answer

When purchasing a computer,the functional area responsible for technical support is

Correct AnswerverifiedShow Answer

Describe the material order process in the following figure:

Correct AnswerverifiedWhen production is alerted to a new orde...View AnswerShow Answer

Analyses that attempt to predict the future sales of a product are called:

Correct AnswerverifiedShow Answer

Describe the difference between functional areas of operation and business processes.Give an example of a business process.

Correct AnswerverifiedMost companies have four main functional...View AnswerShow Answer

When manufacturing runs out of raw materials,it's known as a stockout.

Correct AnswerverifiedShow Answer

____ results in management overinvesting in extra raw materials

Correct AnswerverifiedShow Answer

What departments are involved in the business process of selling a new computer?

Correct AnswerverifiedRefer to t...View AnswerShow Answer

Which business function is performed by Accounting and Finance?

Correct AnswerverifiedShow Answer

The business functions of financial accounting,cost allocation and control,planning and budgeting,and cash-flow management take place in the ____________________ functional area of operation.

Correct AnswerverifiedAccounting and Finance A/F

Which of the following outputs would emerge from the Accounting and Finance functional area?

Correct AnswerverifiedShow Answer

A shortfall of raw materials is known as a ____________________.

Correct AnswerverifiedStockout

Sales forecasts are historical records of sales.

Correct AnswerverifiedShow Answer

Correct Answer
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False

Correct Answer
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For the most part,this is a cash busines...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Sharing data effectively and efficiently...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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When production is alerted to a new orde...
View Answer

Correct Answer
verified

Correct Answer
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Most companies have four main functional...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Refer to t...
View Answer

Correct Answer
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Correct Answer
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Accounting and Finance A/F

Correct Answer
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Correct Answer
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Stockout

Correct Answer
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