ch 5 end of chapter Flashcards
Freeman and Associates is a medium-sized construction company specializing in high-end custom homes. The bookkeeper handles all orders, approvals, invoices, and payments manually. Which of the following will help the company implement a more streamlined and faster approval system for its financial activities?
A. Increasing financial analytics and financial reporting
B. Analyzing customer information
C. Monitoring cash management and budget planning
D. Integrating the modules in the financial system
E. Implementing a supply chain management system
D. Integrating the modules in the financial system
The office manager for Freeman and Associates is concerned that subcontractors are billing the company twice for work that is performed. Which of the following reports would help the manager identify fraudulent transactions?
A. General ledger report
B. Routine report
C. Non-compliance report
D. Exception report
E. Compliance report
D. Exception report
Which of the following is typically NOT included in a full-featured financial management system?
A. Budgeting
B. Payroll
C. General ledger
D. Cash management
E. Procurement
B. Payroll
The Securities and Exchange Commission (SEC) implemented electronic reporting based on ________ to develop a common language for financial reporting, improve transparency, and help eliminate manual processes.
A. XBRL
B. Java
C. HTML
D. IASB
E. XML
A. XBRL
The International Accounting Standards Board (IASB) plays an important role in global trade and investment by doing which of the following?
A. Establishing international tax laws and codes
B. Establishing international standards on ethics in auditing and public sector accounting
C. Providing professional accountants worldwide with access to a wide range of resources
D. Representing accountants employed in the public and private sectors in the United States
E. Developing and promoting a single worldwide set of financial reporting standards
E. Developing and promoting a single worldwide set of financial reporting standards
Amy Smith is a recruiter at Total Service Corporation, which handles customer service functions for a credit card processing company. The company recently implemented a system that allows Amy to track each employee’s training, performance evaluations, and career development progress. She is also able to help managers with succession planning and training needs. The system Amy is using is known as a(n) ________.
A. employee loyalty system
B. employee relationship management system
C. talent management system
D. workforce management system
E. human resources management system
C. talent management system
Delta Airlines uses an Operational Flight Attendant Scheduler to manage its workforce of flight attendants and to ensure all flights are adequately staffed. Which of the following terms describes this tool?
A. Customer relationship management system
B. Customer service system
C. Workforce management module
D. Talent management system
E. Human resources management system
C. Workforce management module
Dow Chemical launched a social “alumni” network to tap the knowledge and skills of its retirees, employees on maternity leave, and others no longer working at the company by using an internal social network. Which of the following is one of the driving forces behind the increasing use of social networks by organizations?
A. A decrease in the number of baby boomers retiring
B. A shortage of skills and organizational knowledge as baby boomers retire
C. A lower level of education among new employees
D. A lack of pension plans for new employees
E. A shortage of chemical engineers
B. A shortage of skills and organizational knowledge as baby boomers retire
Visualization and charting tools provide managers with an effective way to envision future talent needs, termed ________.
A. succession planning
B. human capital adjustment
C. FTE planning
D. scheduling applications
E. employee projections
A. succession planning
All of the following are examples of human capital management metrics that can provide a company with valuable information about how well the organization is managing its human capital EXCEPT ________.
A. employee satisfaction
B. retention rates
C. human capital return on investment
D. turnover costs
E. turnover
B. retention rates
Chancellor’s is a high-end men’s clothing store that frequently resorts to discount blowouts to get rid of excess merchandise. Which of the following best explains the reason for these sales?
A. A decrease in inventory costs
B. Overestimating demand
C. Ineffective tracking of the inventory
D. Increased competition in the local market
E. An increase in the price of raw materials
B. Overestimating demand
For what reason would the Payless Shoe Store, which follows a low-cost leadership strategy, post an “All Sales Final” sign on its products?
A. To make it easy for managers to track inventories
B. To increase supplier power
C. To increase the sale of its products
D. To streamline financial workflows
E. To reduce the costs incurred in the supply chain
E. To reduce the costs incurred in the supply chain
When Apple took steps to identify and correct questionable employment practices on the part of some of its suppliers, it demonstrated ________ practices across its supply chain.
A. mandatory
B. revisionary
C. predatory
D. temporary
E. ethical
E. ethical
When Pepsi’s Chinese operations decided to grow its own potatoes to ensure a reliable supply of potatoes for its Lay’s potato chips, which in turn helped sales of its sodas, the company was extending its operations by ________.
A. going upstream in the supply chain
B. contracting with external potato growers
C. going downstream in the supply chain
D. importing potatoes from the United States
E. implementing a new technology
A. going upstream in the supply chain
An electronic bridge between partner companies in a supply chain that is used to transmit real-time information about orders, inventories, invoices, and other data is known as a(n) ________.
A. electronic data interchange
B. electronic market
C. dot-com market
D. financial network
E. internet-based e-market
A. electronic data interchange
