BPI - chapters 5 and 6 exam Questions and Answers (100% Pass)
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Course
BPI
Institution
BPI
What type of accounting reports can be generated at any time in an ERP
system?
Balance sheets and income statements
What are things that can be found on a balance sheet?
- cash held
- amounts owed to company by customers
- cost of raw materials and finished goods inventory
- long term ...
What happens to temporary accounts when closing the books?
✓ The balances are transferred to the retained earnings accounts
What is materials management (MM) module?
✓ Controls the purchasing and records inventory changes
What does a sales representative need to be able to review when an order
comes in?
✓ The account receivable balance
What are the three elements that go into a manufactured item's cost?
✓ - cost of raw materials
✓ - cost of direct labor
✓ - overhead
What are inventory costs?
Master01 | October, 2024/2025 | Latest update
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