Computer Applications HW

Question 1

Which principle of finance states that a dollar in your hand today is worth more than a dollar you will receive in the future because a dollar in hand today can be invested to turn into more money in the future?

Answer 1

TVM

Question 2

Computer chips double in computing power roughly every 18 months. This phenomenon is called:

Answer 2

Moore’s law

Question 3

Select three examples of the impact of advancements in business management systems on the expectations of users.

Answer 3

Students expect to be able to view a syllabus, from any course, at any time from their phone.

Employees expect to make changes to their tax withholding online.

A manager expects to view changing sales projections from different stores from a computer in her office.

Question 4

Business management systems need three major components in order to provide the services expected by today’s managers. These include:

Answer 4

A decision-making information system

A database management system (DBMS)

A predictive information system

Question 5

Sara, an executive with McMurtry Management, has decided that her organization needs to update its business management system. What three questions should she consider prior to choosing a system?

Answer 5

How will the new system interact with existing systems?

Where will the new system be housed?

Is the change worth the expense and impact on employee morale?

Question 6

Advances in technology greatly impact the capabilities of business management systems. The doubling of the number of transistors on each chip that occurs roughly every 18 months reflects the speed of this technology advance. This phenomenon is called ___ .

Answer 6

Moore’s law

Question 7

Jameson, a senior executive, wants significant control of his business management system so that he can implement changes to quickly adapt to the dynamic business environment. The system that would best meet these needs would be a ___ system.

Answer 7

on-premises option

Question 8

As technology improves, the capabilities of, and the demands on, business management systems increase. Select three examples of the impact of advancements in business management systems on the expectations of users.

Answer 8

A sales representative observes customer purchases of 15 client stores in real time.

A customer checks the status of his pizza’s creation and delivery from his phone

A lead contractor views the latest changes to a building blueprint online.

Question 9

Select three methods businesses use to house a business management system.

Answer 9

Customized, cloud-based solution (PaaS or IaaS)

SaaS solution

On-premises custom solution

Question 10

Emerson has decided to implement a new business management system. What are three advantages of choosing a cloud-based custom option such as a platform as a service (PaaS) or an infrastructure as a service (IaaS) system, over an on-premises option?

Answer 10

Storage size can be quickly scaled to meet changing needs

Reduces the need for a large IT staff

More secure from hackers

Question 11

When implementing a new business management system, which option provides managers with the greatest degree of control?

Answer 11

On-Premises Option

Question 12

When implementing a new business management system, which option provides managers with lowest initial start-up expenses.

Answer 12

Software-as-a-Service (SaaS) Option

Question 13

Jim, an HR director, does not want to change business management systems, even though it brings several advantages and falls within his department budget. What are two reasons why Jim might not want to make the change?

Answer 13

Jim believes the change will create employee stress as they are required to adapt to a new system.

Jim believes changing to the new system will cause a decrease in productivity, at least in the short-term.

Question 14

Jose’s business management system needs to meet very unique needs. He also has a very small IT department. Which business management system should Jose adopt?

Answer 14

Choice, Custom cloud-based Solution (PaaS or IaaS)Custom cloud-based Solution (PaaS or IaaS)

Question 15

Ayala has decided to implement a new business management system. What are two advantages of hosting on-premises?

Answer 15

Any changes deemed necessary can be implemented extremely quickly.

It can be configured to meet the unique needs of the organization.

Question 16

Human resources managers focus on which three of the following?

Answer 16

Recruiting, hiring, training, retaining, compensating, appraising, promoting, reassigning, and firing employees

Managing employee grievances, absences, sick days, and paid-time-off days

Scanning the environment to determine future HR needs

Question 17

Select three categories of HR management systems.

Answer 17

Employee evaluation software

Compensation management software

Employee benefits administration software

Question 18

Select two reasons why a human resource manager might choose to use recruiting and hiring management software.

Answer 18

Human resources managers often need sophisticated software to assist them in making accurate estimates of recruiting, hiring, and training requirements.

Extensive governmental oversight regarding the hiring of employees makes using an updated recruiting and hiring management essential.

Question 19

Skyler, an executive, wants to implement a business management system that can be quickly scaled as he anticipates rapidly changing database storage needs. He likes his uniquely developed current system but wants increased security from hackers while decreasing his need for a large IT department. Skyler should choose a ___

Answer 19

custom Cloud-based solution (PaaS or IaaS)

Question 20

Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?

Answer 20

A SaaS solution minimizes initial start-up costs

They are updated by a third-party that has a major financial incentive in ensuring that the software is in compliance with the latest regulations

Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms.

Question 21

Along with pay, employee_____remain a critical part of an overall compensation strategy.

Answer 21

Benefits

Question 22

Human resources managers need sophisticated software to assist them in making accurate estimates of ____ hiring, and training requirements.

Answer 22

recruiting

Question 23

Along with their pay, HR managers often need to track employee hiring dates, marital status, number of dependents, cafeteria choices, and usage, in order to accurately manage their employees’ ___ . For this reason, nearly all firms use a management system to ensure this is done correctly.

Answer 23

benefits packages

Question 24

Universal Product Codes (UPC) and Radio Frequency Identification (RFID), combined with database management systems (DBMS), have greatly advanced the performance of_____ management systems.

Answer 24

inventory

Question 25

Many states require significant documentation of substandard performance prior to any employee demotion or dismissal, while an equitable means of ranking performance can serve as a strong motivator. For this reason, many managers use employee ____ software to efficiently meet these needs

Answer 25

evaluation

Question 26

Select three popular inventory management systems.

Answer 26

QuickBooks Enterprise

SAP Material Management (SAP MM)

Oracle NetSuite

Question 27

Select two technologies that advanced the efficiency of inventory management systems.

Answer 27

Radio Frequency Identification (RFID)

Universal Product Codes (UPC)

Question 28

When selecting an inventory management solution, two reasons managers should opt for a system that integrates easily with existing business management software are ___ and ___.

Answer 28

employees will be less anxious if they are somewhat familiar with the system already

using a system that employees are used to will probably reduce training time

Question 29

Many states require significant documentation of substandard performance prior to any employee demotion or dismissal, while an equitable means of ranking performance can serve as a strong motivator. For this reason, many managers use employee ____software to efficiently meet these needs.

Answer 29

evaluation

Question 30

The first step in business process management examines business activities and breaks them down into their individual components. This is called the process ____ step.

Answer 30

Design

Question 31

Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of ___ .

Answer 31

smaller businesses

Question 32

What is conducted in the process execution step of business process management?

Answer 32

The business process execution language engine is run.

Question 33

The first stage of the project management (PM) process, in which project objectives are identified and feasibility studies are conducted is the ___ phase.

Answer 33

Initiation

Question 34

Select the objective that is typically accomplished during the execution phase (the third stage) of the project management process.

Answer 34

Managers monitor the progress of the project and resources.

Question 35

Select two objectives that might typically be accomplished during the planning phase (the second stage) of the project management process.

Answer 35

A meeting with project stakeholders is convened allowing these key players to review the Gantt chart and the project timeline.

A Gantt chart is created or fine-tuned if one was started during the feasibility study.

Question 36

Select 3 common services provided by project management (PM) systems software.

Answer 36

Document storage

Visual project depictions

Permissions levels

Question 37

Select two reasons why senior management should seek buy-in from stakeholders when implementing a new business intelligence (BI) system.

Answer 37

If users do not understand the process the BI software will unnecessarily waste an organization’s resources.

If users find the BI software too cumbersome to use it can lead senior management into making sub-optimal decisions.

Question 38

Select three major data analytics software platforms.

Answer 38

SAP Analytics Cloud

Oracle Analytics Cloud

Tableau by Salesforce

Question 39

ERP systems help organizations improve operational efficiency in which 3 of the following ways?

Answer 39

Centralized database

Access to data

Customizable

Question 40

Regulatory and compliance information can be created and maintained from a centralized location when ___ is integrated into an enterprise resource management solution.

Answer 40

fininical management software systems

Question 41

While ERP systems offer many competitive advantages to users, particularly those in upper management, a significant disadvantage is their ___.

Answer 41

high cost

Question 42

Benefits of Cloud-based ERP, over on-premises ERP solutions, include which 3 of the following?

Answer 42

Cloud-based ERP allows organizations to access reports from remote locations.

Organizations using cloud-based ERP have reduced IT labor expenses.

They have lower IT infrastructure expenses

Question 43

ERP software integrates several software packages into a single platform. An example of one of these software packages is ___ software, that stores employee compensation and performance information.

Answer 43

HRM

Question 44

One of the first computer-aided design programs ever developed was also among the first to be integrated into ERP systems. This popular program is ___ .

Answer 44

auto Cad

Question 45

ERP systems can be integrated with financial management systems to provide centralized access and management of financial data. The benefits of this type of integration include which 3 of the following?

Answer 45

Structured compliance architecture

The ability to generate financial reports

Improved visibility

Question 46

Software designed to handle a variety of financial calculations that are used for reporting and monitoring of business performance including tracking accounts receivable and payable, billing, and payroll along with payment processing, ledger journaling, expenses, and purchase orders are referred to as ___ system software

Answer 46

accounting

Question 47

Advantages of integrating project management software into an enterprise resource planning system include which 3 of the following?

Answer 47

Integration allows for projects to be divided into phases, subprojects, and tasks to make data analysis and project monitoring easier.

Integration provides a centralized location where data is stored and easily retrieved, allowing management to review planning, management, and analysis of an organization’s project.

Integration provides management with the ability to assign project management tasks and responsibilities.

Question 48

Benefits of integrating ___ into an ERP include better visibility of customer relationships, faster billing, and single source reporting via user customized dashboards.

Answer 48

CRM software