Question 6 of 30

Which of the following statements is not true about the three main transaction cycles in the typical business?

In the Expenditure Cycle, the business receives resources in exchange for its expenditures.

In the Revenue Cycle, the business receives revenue from outside sources.

In the Conversion Cycle, the business provides value added through its products or services.

In the Revenue Cycle, the business provides value added through its products or services.

In the Expenditure Cycle, the business incurs expenditures in exchange for resources.

Question 7 of 30

All of the following are benefits of ERP systems: - Improved integration - Fewer errors - Improved speed and efficiency - Lower total costs in the complete supply chain - Shorten throughput times

True

False

Question 8 of 30

Which of the following statements is false?

Human Resources is responsible for overseeing the evaluation of employees.

Marketing and Sales is responsible for cash-flow management.

ERP software allows all functional areas to share a common database.

Accounting and Finance is responsible for providing summaries of operational data in managerial reports.

Human Resources receives hiring needs and personnel information from Marketing and Sales.

Question 9 of 30

All of the following are major ERP vendors, except _____________.

SAP

Baan

Salesforce.com

JD Edwards

Oracle

Question 10 of 30

All of the following statements are true about Accounting Information Systems (AIS) except:

Internal users include management and operations personnel.

A record is the most elemental piece of useful data in the database of an AIS.

Accounting information system processes financial and some non-financial transactions.

Data sources are facts which may or may not be processed and have no direct effect on a user's actions.

Relevance, timeliness and accuracy are all characteristics of useful information in an AIS.