MISY 5340 Combined Questions with Correct Answers

MISY 5340 Combined

1. Which one of the following are key organizational data relevant to the production
process?
a. Company code
b. Credit control area
c. Client
d. Storage location
e. Plant - answerAnswer: a, c, d, e

1. Balance sheet accounts are grouped into which of the following categories?
a. Revenue
b. Assets
c. Liabilities
d. Equity
e. Expenses - answerAnswer: b, c, d

2. The master data relevant to the production process are
a. Work centers
b. Material master
c. Bills of material
d. Client
e. Company code - answerAnswer: a, b, c

2. An organization can possess which of the following types of assets?
a. Tangible
b. Intangible
c. Financial
d. Economic
e. Virtual - answerAnswer: a, b, c

3. Which of the following are statuses that can apply to a BOM?
a. On
b. Off
c. Active
d. Inactive
e. Open - answerAnswer: c, d

3. Tangible assets can include which of the following?
a. Computers
b. Bonds
c. Production Machinery
d. Real Estate

, e. Mortgage - answerAnswer: a, c, d

4. What are the basic time elements in the production process?
a. Setup time
b. Alternate time
c. Build time
d. Teardown time
e. Processing time - answerAnswer: a, d, e

4. What are the most common transaction types that occur during the life of an asset?
a. Production
b. Allocation
c. Acquisition
d. Depreciation
e. Retirement - answerAnswer: c, d, e

5. Which of the following can be included in processing time?
a. Machine time
b. Configuring work center
c. Configuring equipment
d. Labor time
e. Setup time - answerAnswer: a, d

5. What are the primary ways in which an asset can be acquired?
a. Internally by production
b. Internally by inventory tracking
c. Externally by vendor
d. Externally without a vendor
e. By asset liquidation - answerAnswer: a, c, d

6. Which of the following are the general classifications of time elements in production?
a. Floating
b. Volatile
c. Fixed
d. Explosive
e. Variable - answerAnswer: c, e

6. Which of the following are common depreciation areas used in the US?
a. Book depreciation
b. Cost accounting depreciation
c. Legal depreciation
d. Special depreciation
e. Physical depreciation - answerAnswer: a, b, c, d

7. The material master is grouped into different views or segments based on which
factors?