Business Process and ERP

What is a business process?

• A set of individual activities

• A set of random activities

• A set of coordinated activities

• A set of unrelated activities

What is a transaction in business?

• An agreement between two entities

• An agreement between three entities

• An agreement between four entities

• An agreement between five entities

What is transaction processing?

• Capturing transaction data and ignoring it

• Capturing transaction data and deleting it

• Capturing transaction data and hiding it

• Capturing transaction data and storing it for later use

What are the activities associated with selling goods and services in exchange for cash or a future promise to receive cash?

• Revenue cycle

• Human resources/payroll cycle

• Expenditure cycle

• Production cycle

What are the activities associated with purchasing inventory for resale or raw materials in exchange for cash or a future promise to pay cash?

• Revenue cycle

• Expenditure cycle

• Production cycle

• Human resources/payroll cycle

What are the activities associated with using labor, raw materials, and equipment to produce finished goods?

• Revenue cycle

• Expenditure cycle

• Human resources/payroll cycle

• Production cycle

What are the activities associated with hiring, training, compensating, evaluating, promoting, and terminating employees?

• Human resources/payroll cycle

• Production cycle

• Revenue cycle

• Expenditure cycle

What are the activities associated with raising money by selling shares in the company to investors and borrowing money as well as paying dividends and interest?

• Revenue cycle

• Financing cycle

• Production cycle

• Expenditure cycle

What is the goal of an ERP system?

• To make the information flow dynamic and immediate

• To make the information flow static and outdated

• To make the information flow erratic and unpredictable

• To make the information flow slow and delayed

What do functional silos categorize an organization's tasks and activities into?

• Groups to improve efficiency

• Groups to decrease efficiency

• Groups to create chaos

• Groups to reduce responsibility