IT IMP QUESTIONS

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Ans- i. Day book:
a. In Tally, the Day Book is an account book that lists all transactions made on a
specific day or over a set period.
b. It includes transactions such as: financial vouchers, inventory vouchers, and
reversing journals.
ii. Profit & Loss A/c:
a. Profit and Loss (P&L) account in Tally is a financial statement that summarizes a
business's revenues, expenses, and costs over a specific period of time.
b. This report also gives the final working result of the business with Net profit/Net
Loss.

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 (Any 4 Points each)

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Ans: i. Electronic Transaction:
a. E-commerce reduces the paper work and significantly lower the transaction cost.
b. E-Commerce enables the use of credit cards, debit cards, smart cards, electronic
fund transfer via bank's website and other modes of electronic payment.
ii. Cost Saving:
a. E-commerce application provides users with more options to compare and
select the cheaper and better option. It helps in reducing the cost of searching a
product.
b. E-commerce has enabled rural areas to access services and products, which are
otherwise not available to them.

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Ans- i. B2C:
a. In B2C model, business sells it’s products directly to a customer.
b. These B2C businesses are online retailers.
c. Customers can view and select products on the website, then place an order. The
website notifies the business via email, and the organization ships the product to the
customer.
d. Example: Amazon, Flipkart, etc.
ii. B2B:
a. B2B stands for business-to-business, which is a commercial transaction between
two businesses
b. In B2B model, business sells it’s products to an intermediate buyer who then sells
the product to the final customer.
c. Upon ordering from the company's website, the wholesaler sells the received
products at its retail outlets to final customers.
d. Example: Tata communications (network provider).
iii. C2C:
a. C2C is a short form for "consumer-to-consumer" or "customer-to-customer".
b. C2C platforms act as intermediaries, connecting buyers and sellers and facilitating
transactions.
c. A business organization compares interest rates from different banks for personal
and car loans, and then approaches customers meeting budget requirements to offer
services.
d. For e.g. - A blog can be written by an author for a business to improve sale of
products, eBay.
iv.C2B:
a. Consumer-to-business (C2B) is a business model where consumers provide
goods or services to businesses.
b. Consumers can sell assets such as property, cars, and motorcycles or rent a
room by posting information on the website.
c. Website may or may not charge the consumer for its services.
d. Example OLX, Quikr, online auction.
Ans: i. EDI means Electronic Data Interchange.
ii. It uses standardized format for the interchange of
business information.
iii. It is a process which allows one company to send information to another
company electronically rather than paper.
iv. Many business documents can be exchanged using EDI, two most common
documents are purchase orders and invoice.

Ans- i.G2C:

a. The Government-to-citizen refers to the government services which enable citizens

to get access to wide variety of public services.
b. A citizen can have access to the services anytime from anywhere.
c. Furthermore, Many services like license renewals and paying tax are essential in
G2C.
d. It also focuses on geographic land barriers.
ii.G2B:
a. The Government to business is the exchange of services between Government and
Business organizations.
b. G2B provides access to relevant forms needed to comply.
c. The G2B also consists of many services exchanged between business sectors and
government.
d. It eliminates paper work, saves time and costs, promotes transparency in business
while interacting with government.
iii.G2G:
a. The Government-to-Government refers to the interaction between different
government departments, organizations and agencies
b. In G2G, government agencies can share the same database using online
communication.
c. The government departments can work together. In conclusion, G2G services can
be at the local level or the international level.
d. Likewise, it provides safe and secure inter-relationship between domestic or
foreign government.
iv. G2E:
a. The Government-to-Employee is the internal part of G2G sector.
b. Furthermore, G2E aims to bring employees together and improvise knowledge
sharing.
c. The G2E sector provides human resource training and development.
d. So, G2E is also the relationship between employees, government institutions and
their management.

Ans- i. Encryption:
a. Encryption safeguards online data during transmission through processes of
encryption and decryption.
b. Encryption transforms readable plaintext into coded cipher text, while decryption
reverses this process.
c. Encryption methods include Symmetric and Asymmetric encryption.
ii. Digital signature:
a. A digital signature is also known as an electronic signature.
b. A digital signature ensures the authenticity of electronic messages using encryption
(asymmetric cryptography)
c. Digital signatures are used in e-commerce, software distribution, financial
transactions.
d. This is the direct transfer of information between two partners.

Ans- A. Financial Module:

i. The financial module in an ERP system manages a company's financial

activities.
ii. It's a core part of the ERP system.
iii. The finance module contains standard accounting records, such as the
general ledger and balance sheet.
iv. The finance module is a key part of a company's financial planning and
forecasting.
B. Manufacturing Module:
i. Manufacturing module contains necessary business rules to manage the entire
production process.
ii. The ERP's manufacturing module assists in production planning, tracking
output, and managing resources effectively.
iii. Assists in planning production schedules and securing essential resources for
manufacturers.
iv. It also provides freedom to change manufacturing and planning methods as
and when required.
C. Production planning module:
i. A production planning module in an ERP (Enterprise Resource Planning)
system helps manufacturer’s plan and control production activities.
ii. Determine what to produce, when to produce it, and how much to produce.
iii. Allocate human resources, raw materials, machinery, and work centers.
iv. This module identifies the materials required, allocates optimal resources
using data and sales forecasting with the sales data.
 D. HR Module:
i. HR stands for Human Resource.
ii. An HR module is an add-on to an ERP system that helps businesses to
manage human resources (HR) tasks.
iii. It can help organizations streamline HR processes and improve efficiency.
iv. The HR module stores comprehensive employee data such as personal info,
salary, attendance, performance, and promotions in an enterprise.
E. Inventory Control module:
i. An Enterprise Resource Planning (ERP) inventory module is a tool that helps
businesses to manage and optimize their inventory.
ii. It offers live inventory updates and connects with business operations for
efficient management.
iii. ERP inventory modules can help businesses improve customer satisfaction by
ensuring accurate and timely order fulfillment.
iv. It identifies inventory needs and sets stock item targets.
F. Purchase module:
i. Purchase Module helps for generating purchase order evaluating the supplier,
and billing.
ii. It is closely connected with the inventory, finance and production planning
module.
iii. The module can track and analyze the quotes that come in.
iv. The module can automatically update inventory levels once an order arrives.
G. Marketing Module:
i. The marketing module in an Enterprise Resource Planning (ERP) system helps
businesses manage marketing activities, improve customer relationships, and
create new business opportunities.
ii. The marketing module can help businesses identify advertising channels.
iii. The marketing module can help businesses maintain competitive pricing scales.
iv. The marketing module supports processes like lead management, campaign
management, surveys, and analytics.
 H. Sale & Distribution Module:
i. This module assists in tracking enquiries, order placement, scheduling,
dispatching, and invoicing.
ii. This module is closely integrated with the e-commerce website of the
organization.
iii. The SD module stores and manages customer and product-related data.
iv. The SD module allows users to configure pricing structures based on
variables like customer, quantity, and date.
I. Quality management Module:
i. This module is used for managing the quality of the product.
ii. The quality management module fulfills the following functions-Quality
planning, Quality inspection and Quality control.
iii. Helps businesses track quality control plans, manage inspections, and track
rejections.
iv. Helps businesses improve the quality of their products.

Ans- i. Product life cycle management is the process of managing the entire life cycle
of a product.
ii. Product life cycle is used for determining the lifespan of a product.
iii. Four stages of Product Life Cycle Management consist of: a. Introduction
b. Growth
c. Maturity
d. Decline
iv. Development & introduction of a new product, then its growth in the market,
its majority and at last its decline if it cannot compete with similar products of other
companies.
Ans- i. Artificial intelligence services are impacting every facet of business operations.
ii. The concept of machine learning is going to revolutionize ERP. It will help
business to achieve high levels of automation.
iii. Embedded business intelligence analytics in data management pictures built
into ERP will be the next future ERP.
iv. There will be more transactions regard by sensors and external system or
devices.

Ans- i. Improved resource utilization:

By installing ERP software, an enterprise can effectively plan, manage resources,
minimize wastage, and improve resource utilization.
ii. Better customer satisfaction:
Customer satisfaction involves meeting customer needs efficiently through an ERP
system, enhancing service quality without extra cost or time.
iii. Provides accurate information:
In a competitive world, an Enterprise must cleverly plan and manage the future by
utilizing high-quality, relevant, updated and accurate information.
iv. Decisions making capability:
Providing decision makers with accurate and relevant information enables them to
make better decisions, leading the enterprise to outperform competitors.