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
Shippers such as UPS partner with the U.S. Postal Service to deliver small packages to the customer’s doorstep. UPS then uses customer surveys to identify delivery delays that may have occurred. The surveys give UPS valuable information and improve the company’s ________.
A. visibility in the supply chain
B. ability to charge for premium shipping
C. profits
D. customer feedback rate
E. selection of movies
A. visibility in the supply chain
The Blue Door is an online apparel retailer that has a low rate of customer retention. Which of the following can help increase its customer retention?
A. Promoting the Blue Door website in magazines to gain visibility
B. Streamlining the Blue Door supply chain
C. Using uninvited pop-ups to chat with Blue Door customers
D. Using CRM to track customer behavior on the Blue Door site
E. Building seamless financial workflows at Blue Door with ERP
D. Using CRM to track customer behavior on the Blue Door site
Progressive Insurance recently deployed Salesforce.com for its sales agents; it provides real-time web-accessible metrics showing the number of new accounts for each rep, and it automatically sends e-mails to the whole organization to recognize and congratulate the top performers. This approach is based on which of the following?
A. Pay-for-performance
B. Human motivation
C. Self-determination theory
D. Team dynamics
E. Social comparison
B. Human motivation
AFLAC, Inc. is implementing a new sales program to encourage customer service representatives to offer additional insurance products to customers who call for service. This is an example of a CRM strategy to earn more revenue from existing customers by ________.
A. using a foot-in-the-door technique
B. cross-selling
C. implementing sales force automation
D. promoting permission marketing
E. using predictive analytics
B. cross-selling
TracSoft is a website development company that creates websites for small companies that focus on e-mail marketing. The company uses e-marketing information systems that provide extensive tracking capabilities for their clients by embedding in the HTML e-mail a ________, which is a tiny, invisible image, typically a single pixel with a unique identifier.
A. web beacon
B. web analytic
C. pop-up ad
D. tracking device
E. web Trojan
A. web beacon
Wells Fargo Bank recently implemented an integrated application suite to support the whole organization that includes modules to manage financials, human resources, supply chains, customer relationships, and other business processes, creating a “suite of suites” called ________.
A. business process reengineering
B. total quality management
C. enterprise resource planning
D. customer relationship management
E. supply chain management
C. enterprise resource planning
In an ERP suite that includes modules specialized for higher education, which of the following would be used by students to register for classes, check for prerequisites, and obtain course information?
A. E-learning
B. Financial aid
C. Institutional advancement
D. Student resources
E. Student academic records
E. Student academic records
Columbus Financial Consultants (CFC) is evaluating various options for its enterprise resource planning system. The company has systems running on different platforms and would like to connect the systems and improve consistency. The integration approach that best meets CFC’s needs is a(n) ________.
A. unlinked suite
B. engineered suite
C. suite with synchronized modules
D. best of breed suite
E. vendor-branded suite
C. suite with synchronized modules
To implement the organization’s five-year strategic plan, Dick’s Sporting Goods has decided to invest in a system that will support its core functional departments including financial and asset management and human resources functions. The type of system Dick’s is planning to invest in is called a(n) ________.
A. customer relationship management system
B. supply chain management system
C. data warehouse
D. enterprise resource planning system
E. decision support system
D. enterprise resource planning system
