Ultimate Trivia Knowledge Test On ECOM And ERP Basics! Trivia Quiz
This is the Ultimate Trivia Knowledge Test on Ecom and ERP Basics! These two software programs are perfect when it comes to inputting data into the system and in a way, helping you manage your sales account. How about you take up the quiz and get to see what you have forgotten about the programs. All the best!
- 1.
Which of the following is a business or organizational customer?
- A.
Producers of goods and services.
- B.
A retailer.
- C.
A wholesaler.
- D.
A government agency.
- E.
All of the above are business and organizational customers.
Correct Answer
E. All of the above are business and organizational customers.Explanation
All of the options listed in the question - producers of goods and services, a retailer, a wholesaler, and a government agency - can be considered as business or organizational customers. This means that they are entities that purchase goods or services from other businesses rather than individual consumers. Therefore, all of the options provided can be classified as business or organizational customers.Rate this question:
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- 2.
In comparison to the buying of final consumers, the purchasing of organizational buyers:
- A.
Is strictly economic and not at all emotional.
- B.
Is always based on competitive bids from multiple suppliers.
- C.
Leans basically toward economy, quality, and dependability.
- D.
Is even less predictable.
- E.
Both a and c are true statements.
Correct Answer
C. Leans basically toward economy, quality, and dependability.Explanation
The correct answer is "leans basically toward economy, quality, and dependability." This answer suggests that the purchasing behavior of organizational buyers is primarily driven by considerations of cost-effectiveness, product quality, and reliability. Unlike final consumers, who may be influenced by emotional factors, organizational buyers tend to prioritize practical and rational factors when making purchasing decisions.Rate this question:
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- 3.
In a buying center, multiple buying influences can include:
- A.
Users.
- B.
Buyers.
- C.
Gatekeepers.
- D.
Deciders.
- E.
All of the above.
Correct Answer
E. All of the above.Explanation
In a buying center, multiple buying influences can include users, buyers, gatekeepers, and deciders. Users are the individuals who will use the product or service being purchased. Buyers are responsible for making the actual purchase decision. Gatekeepers control access to information and resources within the organization. Deciders have the final authority to approve or reject a purchase. Therefore, all of these roles can have an influence on the buying decision, making "all of the above" the correct answer.Rate this question:
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- 4.
A large manufacturer is about to purchase a large supply of an unfamiliar chemical that will be used in the production of an important new product. What kind of buying would the company be most likely to do?
- A.
New-task buying
- B.
Straight rebuy buying
- C.
Modified rebuy buying
Correct Answer
A. New-task buyingExplanation
New-task buying refers to a situation where a company is purchasing a product or material that is unfamiliar to them and will be used in the production of a new product. In this case, the large manufacturer is about to purchase a large supply of an unfamiliar chemical for their important new product, indicating that they are engaging in new-task buying. This type of buying requires extensive research, evaluation, and decision-making as the company is entering into a new market or introducing a new product.Rate this question:
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- 5.
Close buyer-seller relationships in business markets can
- A.
Lower total costs because of shared tasks.
- B.
Reduce flexibility because of long-term commitments.
- C.
Provide customers with inventory exactly when it's needed.
- D.
Involve changes in a firm's product and procedures to satisfy just one customer.
- E.
All of the above.
Correct Answer
E. All of the above.Explanation
Close buyer-seller relationships in business markets can lower total costs because of shared tasks. This means that both the buyer and seller can collaborate and divide tasks, leading to a more efficient and cost-effective process. Additionally, these relationships can reduce flexibility because long-term commitments are often made, limiting the ability to adapt quickly to changing circumstances. Furthermore, close relationships can provide customers with inventory exactly when it's needed, ensuring timely delivery and reducing inventory holding costs. Lastly, in order to satisfy a specific customer's needs, a firm may need to make changes in its product and procedures, which can be a result of a close buyer-seller relationship. Therefore, all of the above options are valid explanations for the benefits of close buyer-seller relationships in business markets.Rate this question:
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- 6.
Today, when a buyer can't specify all of the details of what it will need in the future, the relationship with a supplier is most likely to involve:
- A.
A reverse auction.
- B.
A procurement site.
- C.
Negotiated contracts.
- D.
Competitive bids.
- E.
All of the above.
Correct Answer
C. Negotiated contracts.Explanation
When a buyer cannot specify all the details of what it will need in the future, a relationship with a supplier is most likely to involve negotiated contracts. This is because negotiated contracts allow for flexibility and customization based on the buyer's evolving needs. Unlike a reverse auction or competitive bids where the focus is on getting the lowest price, negotiated contracts prioritize collaboration and open communication between the buyer and supplier to ensure that the buyer's changing requirements are met effectively. A procurement site may be used as a platform for facilitating the negotiation and contract management process but is not the primary factor in this scenario.Rate this question:
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- 7.
An automobile manufacturer's practice of buying some of its raw materials from other manufacturers who in turn buy from it is an example of:
- A.
A procurement site.
- B.
Vendor analysis.
- C.
Specification buying.
- D.
Being "open to buy."
- E.
Reciprocity.
Correct Answer
E. Reciprocity.Explanation
Reciprocity refers to the practice of two parties mutually buying from each other. In the given scenario, the automobile manufacturer buys raw materials from other manufacturers who, in turn, buy from them. This mutual exchange of purchases demonstrates reciprocity.Rate this question:
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- 8.
People from sales, production, quality control, and finance are working with the purchasing department to select a new supplier. The sales manager wants to select a supplier that is also a customer for some of the firm's own products. The sales manager
- A.
Is a gatekeeper.
- B.
Is more likely to get his way if his company is located in Japan instead of the U.S.
- C.
Is trying to use vendor analysis to his advantage.
- D.
Is not a member of the buying center, so he can be ignored.
- E.
None of the above.
Correct Answer
B. Is more likely to get his way if his company is located in Japan instead of the U.S.Explanation
The sales manager wants to select a supplier that is also a customer for some of the firm's own products. If the company is located in Japan instead of the U.S., it is more likely that the sales manager will get his way because there may be a stronger relationship between the company and potential suppliers in Japan. Being located in the same country as the supplier can facilitate better communication, understanding, and collaboration, increasing the chances of the sales manager's preference being considered.Rate this question:
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- 9.
B2B e-commerce sites include:
- A.
Online marketplaces.
- B.
Catalog sites.
- C.
Collaboration hubs.
- D.
Procurement sites.
- E.
All of the above.
Correct Answer
E. All of the above.Explanation
B2B e-commerce sites include online marketplaces, catalog sites, collaboration hubs, and procurement sites. This means that B2B e-commerce sites encompass all of these different types of platforms. Online marketplaces allow businesses to buy and sell products or services, catalog sites provide a digital catalog of products for businesses to browse and purchase, collaboration hubs facilitate communication and collaboration between businesses, and procurement sites streamline the purchasing process for businesses. Therefore, the correct answer is all of the above.Rate this question:
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- 10.
Which of the following NAICS codes would provide the most specific information about a sub-category of an industry?
- A.
31
- B.
315
- C.
3152
- D.
Cannot be determined without additional information.
Correct Answer
C. 3152Explanation
The NAICS code 3152 would provide the most specific information about a sub-category of an industry. NAICS codes are used to classify businesses and industries based on their primary activities, and the more digits in the code, the more specific the classification becomes. In this case, 3152 is a more specific code compared to 315 and 31, indicating that it provides detailed information about a sub-category within an industry.Rate this question:
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- 11.
If you obtain a customer's four digit NAICS code, you should know that:
- A.
This firm might be manufacturing quite different products than other firms with the same number.
- B.
The firm may also have a five digit code.
- C.
A number of other firms probably have the same code.
- D.
The firm may also have a six digit code.
- E.
All of the above are true.
Correct Answer
E. All of the above are true.Explanation
The correct answer is "All of the above are true." This means that if you obtain a customer's four digit NAICS code, it is possible that the firm might be manufacturing quite different products than other firms with the same number, the firm may also have a five digit code, a number of other firms probably have the same code, and the firm may also have a six digit code. In other words, all of these statements are correct and can be true when considering a customer's four digit NAICS code.Rate this question:
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- 12.
As contrasted with manufacturers, producers of services are:
- A.
More geographically spread out.
- B.
Growing fast domestically and internationally.
- C.
More numerous.
- D.
All of the above.
- E.
None of the above.
Correct Answer
D. All of the above.Explanation
The correct answer is "All of the above." This means that producers of services are more geographically spread out, growing fast domestically and internationally, and more numerous compared to manufacturers. This suggests that the nature of service production allows for a wider distribution, rapid growth, and a larger number of service providers in comparison to manufacturers.Rate this question:
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- 13.
Which of the following statements about retail buying is FALSE?
- A.
In most retail operations, a "resident buyer" runs his own department--and his decision is final.
- B.
Most retail buyers see themselves as purchasing agents for their target customers.
- C.
Retail buyers make most purchases as straight rebuys.
- D.
A retail buyer is usually "open to buy" only when s/he has not spent all of the budgeted funds.
- E.
Resident buyers are independent buying agents who help producers and middlemen reach each other inexpensively.
Correct Answer
A. In most retail operations, a "resident buyer" runs his own department--and his decision is final. -
- 14.
Which of the following statements about bidding for government business is TRUE?
- A.
Government buying needs are hard to identify--and their primary concern is with finding the lowest price.
- B.
Government buyers avoid using negotiated contracts since they must purchase at a pre-set price.
- C.
A government buyer may be forced to accept the lowest bid that meets the specifications.
- D.
The biggest job of the government buyer is to locate enough potential suppliers so the bidding procedure works efficiently.
- E.
All of the above are true statements.
Correct Answer
C. A government buyer may be forced to accept the lowest bid that meets the specifications.Explanation
The statement "A government buyer may be forced to accept the lowest bid that meets the specifications" is the correct answer because it reflects the reality of government bidding processes. Government buyers are often required to follow strict procurement regulations and choose the bid that meets the specified requirements at the lowest price. This ensures fairness and transparency in the procurement process.Rate this question:
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- 15.
The Foreign Corrupt Practices Act:
- A.
Prohibits U.S. firms from paying bribes to foreign officials.
- B.
Levies stiff penalties against people who pay bribes.
- C.
Exempts managers whose agents secretly pay bribes.
- D.
Was amended to allow small grease money payments if they are customary in that country.
- E.
All of the above.
Correct Answer
E. All of the above.Explanation
The correct answer is "All of the above." The Foreign Corrupt Practices Act (FCPA) prohibits U.S. firms from paying bribes to foreign officials, levies stiff penalties against people who pay bribes, exempts managers whose agents secretly pay bribes, and was amended to allow small grease money payments if they are customary in that country. This means that all the statements mentioned in the options are true and are covered under the FCPA.Rate this question:
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- 16.
Who is our SAP implementation partner?
- A.
Tata Consultancy Services
- B.
Tata Technology Limited
- C.
Tata Steel
- D.
Tata Blue Scope Limited
- E.
IBM
Correct Answer
A. Tata Consultancy ServicesExplanation
The correct answer is Tata Consultancy Services. This is because Tata Consultancy Services is a well-known IT services and consulting company that specializes in SAP implementation. They have a strong track record of successful SAP implementations and are often chosen as a partner by many organizations for their expertise in this area.Rate this question:
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- 17.
What does MRP stand for?
- A.
Manpower Requirement Planning.
- B.
Manual Resource Processing
- C.
Machine Requirement Planning
- D.
Material Requirement Planning
Correct Answer
A. Manpower Requirement Planning.Explanation
MRP stands for Manpower Requirement Planning. This term refers to the process of determining the number of employees, their skills, and the time period required to complete a specific task or project. Manpower Requirement Planning helps organizations effectively allocate resources and ensure that they have the right number of employees with the necessary skills to meet their objectives.Rate this question:
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- 18.
Which ERP package TCIL currently using?
- A.
Oracle Apps
- B.
SAP
- C.
BaaN
- D.
Lotus
Correct Answer
A. Oracle Apps -
- 19.
Which module is not a part of Logistics?
- A.
SD: Sales & Distribution
- B.
FI: Finance
- C.
PP: Production Planning
- D.
QM: Quality Management
Correct Answer
A. SD: Sales & DistributionExplanation
The module that is not a part of Logistics is SD: Sales & Distribution. Logistics typically includes modules such as FI (Finance), PP (Production Planning), and QM (Quality Management). Sales & Distribution, on the other hand, is a separate module that deals with the processes related to sales and distribution of goods and services.Rate this question:
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- 20.
SAP stands for
- A.
Systems, Applications, and Program
- B.
Systems, Applications, Products in Data Processing
- C.
Systems , Applications, Process
- D.
Software, Applications, Products in Data Processing
Correct Answer
A. Systems, Applications, and ProgramExplanation
The correct answer is "Systems, Applications, and Program." This is the correct answer because SAP is an acronym that stands for Systems, Applications, and Program. SAP is a software company that provides enterprise resource planning (ERP) solutions to businesses. The company's software helps organizations streamline their business processes and manage various aspects of their operations, such as finance, human resources, and supply chain management. Therefore, the answer "Systems, Applications, and Program" accurately represents what SAP stands for.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Feb 26, 2018Quiz Created by
Harshala
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